Import prices rose 0.5% and export prices 0.2% in October from September according to a BLS report this morning on U.S. Import and Export Price Indexes.
Don’t expect that to last because it was all fuel-based.
Import and export prices have been falling for two years. The recent 0.5% surge in import prices is due entirely to a whopping 7.2% jump in fuel prices from September.
Crude Not Signaling Inflation
Crude did jump by $2.00 today to $45.51 but even a rise to $50 would just keep things where they were relative to October.
I think we are in a bit of an inflation scare caused by Trump. For further discussion please see..
- Mortgage Panic as Rates Rise: Inflation Scare or the Real Deal?
- Shades of Great Depression and Smoot-Hawley: Sarkozy Proposes Carbon Tax on US, Anti-Dumping Tax, Buy-EU Act
- Make Inflation Great Again! Is Trump the “Inflation President”? Spotlight on Bonds, Oil, Gold, Attitudes
Mike “Mish” Shedlock
