Import and Export Prices
With the strengthening of the dollar, we have seen a very minimal increase in the average cost of imported goods. With the increases “hovering near zero on a month to month basis and barely over zero on a yearly basis. Much of this minimal increase can be seen as a result of the current monthly increase to the price of imported iron and steel mill products right around 4%.
This near zero increase in import prices comes in stark contrast to the increases to the US’s export prices. Even with extremely sluggish prices of agricultural goods, year on year overall export prices are up 3.8%. These increases in export prices in comparison to imports are a good indicator of an overall increase in wealth in the hands of Americans as a whole.
Consensus data predicts for imports to rise 0.5% in cost in the month of April, while export prices rising at 0.3%.