How Unchanged Import Prices Could Be Good For Your Wallet

Import prices were unchanged successful June which could beryllium a bully motion for U.S. consumers.

The level period comes aft a 0.2% diminution successful May, which was nan first diminution successful import prices each year, according to a study released coming from nan Bureau of Labor Statistics. Economists expected import prices to autumn further successful June, according to a study from the Wall Street Journal and Dow Jones Newswires.

However, nan fixed import prices are still bully news for consumers who often extremity up paying higher prices for much costly imports.

"Lower import costs, partially owed to a beardown U.S. dollar boosted by high-yield investments, are benefiting nan U.S," wrote Kyra Kendrick, economist astatine Moody's Analytics.

"This spot lowers import prices and affects U.S. export pricing, starring to declining position of trade," Kendrick said. "While this whitethorn slow nationalist income growth, it besides encourages home productivity investments and cost-cutting, helping to incorporate ostentation pressures astatine home."

Export prices did so fall, moving little by 0.5%, but it was a slower diminution than successful nan erstwhile month.