August 12, 2022

There was more good news Friday for inflation, as import prices fell more than expected and brought some much-needed relief for consumers.

The report capped off a relatively upbeat week for those worried about rising prices — and “relatively” is the operative word — as the U.S. is on pace this year to import just over $4 trillion of goods and services this year, according to the latest Bureau of Economic Analysis data.

With Americans already paying huge bills for food, energy and a host of other items in their daily lives, any respite is a welcome one. After all, the monthly import price drop of 1.4% was just the first this year, and the year-over-year increase is still more than 8.8%.

Read more:

https://www.cnbc.com/2022/08/12/this-was-a-good-week-for-inflation-numbers-but-whether-it-can-last-is-the-big-question.html