Investing.com - U.S. import prices fell broadly in line with market expectations in May, while the previous month’s figure was revised to a flat reading, official data showed on Tuesday.
In a report, the U.S. Bureau of Labor Statistics said U.S. import prices fell by a seasonally adjusted 1.0% in May, in line with expectations.
Import prices for April were revised to a flat reading from a previously reported decline of 0.5%.
Year-over-year, U.S. import prices fell at an annualized rate of 0.3% in May, after rising at rate of 0.5% in April.
Lower fuel and nonfuel prices each contributed to the May decrease in overall import prices.
U.S. export prices also declined in May, falling 0.4% after a 0.4% increase in April.
Following the release of the data, the U.S. dollar remained modestly lower against the euro, with EUR/USD adding 0.12% to trade at 1.2497.
Meanwhile, U.S. stock index futures held on to gains, with the Dow Jones Industrial Average futures pointing to a gain of 0.5% at the open, S&P 500 futures rising 0.4%, while the Nasdaq 100 futures signaled an advance of 0.4%.
In a report, the U.S. Bureau of Labor Statistics said U.S. import prices fell by a seasonally adjusted 1.0% in May, in line with expectations.
Import prices for April were revised to a flat reading from a previously reported decline of 0.5%.
Year-over-year, U.S. import prices fell at an annualized rate of 0.3% in May, after rising at rate of 0.5% in April.
Lower fuel and nonfuel prices each contributed to the May decrease in overall import prices.
U.S. export prices also declined in May, falling 0.4% after a 0.4% increase in April.
Following the release of the data, the U.S. dollar remained modestly lower against the euro, with EUR/USD adding 0.12% to trade at 1.2497.
Meanwhile, U.S. stock index futures held on to gains, with the Dow Jones Industrial Average futures pointing to a gain of 0.5% at the open, S&P 500 futures rising 0.4%, while the Nasdaq 100 futures signaled an advance of 0.4%.