US import prices decline in May as inflation remains high
Prices for US exports fell by 1.9 percent in May, after a revised 0.1 percent drop in April
By News Desk
Published - Jun 18, 2023, 09:21 AM ET
Last Updated - Aug 13, 2024, 02:00 AM EDT
US import prices declined 0.6 percent in May, following a 0.3 percent increase in April, says the U.S. Bureau of Labor Statistics.
This decrease was driven by lower fuel and nonfuel prices.
Additionally, prices for US exports fell by 1.9 percent in May, after a revised 0.1 percent drop in April. These trends reflect the high inflation rate and the unchanged interest rate in the US economy, which affect economic activity and outlook.
