Days of burden sharing are gone as import price inflation returns

China 2566 Cons. Discr. - Apparel 360 Cons. Discr. - Durables 323 Materials - Chemicals 162 Tariffs 1632 Trade Balance 859 U.S. 4555

U.S. import price inflation has reached 1.5% year over year in September, excluding food and fuels, marking the fastest rate of expansion since May 2018. Import prices from China in September were unchanged versus a year earlier, ending a period of deflation dating back to October 2018. Prior deflation had in part been driven by Chinese exporters cutting prices to offset part of the impact of the Trump administration’s tariffs which U.S. importers had to pay for. The return to inflation in China import prices was driven by a handful of sectors including plastics where import prices from ...

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