Economic Report: Import prices fall in June by the most in six months; more evidence of falling inflation

AFP/Getty Images
A Chinese worker looks on as a cargo ship is loaded at a port in eastern China. The cost of Chinese imports have fallen slightly in the past year, but Chinese suppliers have not cut prices very much despite U.S. tariffs.

The numbers: The cost of imported goods fell in June by the steepest amount in six months, reflecting lower oil prices and a weaker global economy wracked by U.S.-China trade tensions.

The import price index declined 0.9% last month, the government said Tuesday.

If fuel is excluded, import prices still fell 0.3%.

The upshot: The U.S. is seeing little inflationary pressure at home or from abroad.

>>> Original Source <<<