US export price growth (+3.8% YoY) has now accelerated faster than import prices (+3.3% YoY) as April printed well below expectations of a 3.9% YoY gain).
- Import Price MoM +0.3% vs +0.5% exp.
- Export Price MoM +0.6% vs +0.5% exp.
- Import Price YoY +3.3% vs +3.9% exp.
- Export Price YoY +3.8%
This is the fastest export price growth since Nov 2011..
So the US is importing deflation and exporting inflation with China import prices deflating modestly in the last month…