US import prices have now fallen year-over-year for 26 straight months – the longest non-recessionary streak in US history. The 1.1% decline is slightly worse than expected as China’s exported deflation was flat at 6 year lows but UK ‘exported’ the most deflationary pressure.
26 months in a row… probably nothing.
And while China was flat at 6 year lows, UK is now exporting deflation rapidly…
Time to hike rates?
Charts: Bloomberg
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