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Auto Import Prices Tumble Most On Record As Import Prices Plunge Most Since Financial Crisis

Import Prices dropped YoY by 10.5%, the biggest sequential drop since Dec 2008 (following the Lehamn shock). Priod data was revised lower and March's MoM import prices dropped 0.3% after rising 0.2% in Feb (revised lower from a 0.4% rise). US Auto import prices suffered their biggest YoY drop on record as currency wars and implicitly the strong dollar start to bite (even as imported fuels prices rose 0.4%). Other good news for Americans is that food prices are down 1.1%.

 

Import Prices dropped YoY by 10.5%, the biggest sequential drop since Dec 2008...

 

But worse still as the string dollar and global cuirrency wars escalate:

  • *PRICE OF U.S. AUTO IMPORTS FALLS RECORD 1.8% FROM YEAR EARLIER

 

How long before the lobbyists demand action against "currency manipulator" Japan?