US import price index falls beyond forecasts
(Barcelona) - The US import price index fell by 0.3% in February, thereby slipping further than the forecasts of a 0.1% decline from January's 1.4% growth.
Year-over-year, the US import price index ticked down to 11.2% growth in February from January's 11.5% rate. The market had predicted a more modest easing to 11.3%.
The Import Price Index released by the US Department of Labor informs the changes in the price of imported products into the US.The higher the cost of imported goods, the stronger the effect they will have on inflation, redounding in a higher probability of a rate rise. Generally, a high reading should be taken as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).
Year-over-year, the US import price index ticked down to 11.2% growth in February from January's 11.5% rate. The market had predicted a more modest easing to 11.3%.
The Import Price Index released by the US Department of Labor informs the changes in the price of imported products into the US.The higher the cost of imported goods, the stronger the effect they will have on inflation, redounding in a higher probability of a rate rise. Generally, a high reading should be taken as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).
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