US import prices dropped by the most in more than five years in March amid declines in the costs of petroleum products and a range of other goods, ...
WASHINGTON: U.S. import prices dropped by the most in more than five years in March amid declines in the costs of petroleum products and a range of other goods, pointing to import deflation that could deepen amid the coronavirus pandemic.
Economists polled by Reuters had seen import prices tumbling 3.2per cent in March. In the 12 months through March, import prices plunged 4.1per cent. That was the biggest drop since June 2016 and followed a 1.3per cent decline in February. "We look for the headline U.S. CPI to drop below 0.5per cent on a year-ago basis in the second quarter and remain there through the rest of this year," said Ryan Sweet, a senior economist at Moody's' Analytics in West Chester, Pennsylvania."We also expect a noticeable deceleration in the core CPI this year."
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore condo resales in March rise 17% over February but plunge expected in AprilSINGAPORE - Resales of private non-landed homes rose 17 per cent in March over the previous month while prices barely moved, according to flash data from real estate portal SRX Property on Tuesday (April 14).. Read more at straitstimes.com.
Read more »
Apple shipped 2.5 million iPhones in China in March following virus slump: Government dataApple Inc shipped roughly 2.5 million iPhones in China in March, a slight rebound after one of its worst months in the country ever, according to ...
Read more »
Apple shipped 2.5 million iPhones in China in March following virus slump: government dataApple Inc shipped roughly 2.5 million iPhones in China in March, a slight rebound after one of its worst months in the country ever, according to ...
Read more »
US import prices post largest drop in over five yearsUS import prices dropped by the most in more than five years in March amid declines in the costs of petroleum products and a range of other goods, ...
Read more »
Uber veteran raises US$31 million with a pitch to battle coronavirusTiger Fang, a former Uber executive has raised US$31 million for his Indonesian logistics startup with an unusual pitch that it will help organisations battle the coronavirus in the country.
Read more »