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U.S. import, export prices up in May

By Xinhuanet , 2020-06-15 02:58:23

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U.S. import and export prices both rose in May, the U.S. Department of Labor reported on Friday.

The price index for U.S. imports rose 1 percent in May, the largest one-month advance since the index increased 1 percent in February 2019. Import prices fell on a 12-month basis, declining 6 percent from May 2019 to May 2020.

Import prices from China were unchanged in May following a 0.1-percent advance in April. The price index for imports from China declined 1 percent from May 2019 to May 2020, the smallest 12-month drop since the index fell 1 percent for the year ended March 2019.

Meanwhile, prices for U.S. exports increased 0.5 percent in May, after falling 3.3 percent in April, 1.4 percent in March, and 1.2 percent in February. U.S. export prices fell 6 percent from May 2019 to May 2020.

Prices for exports to China increased 2.7 percent in May following consecutive 2.1-percent declines in April and March. The May advance was the largest one-month rise since the index was first published in December 2017. Despite the May increase, the price index for exports to China fell 3.7 percent over the past 12 months. Enditem

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