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With import and export prices growth having slowed almost non-stop for six months - tracking China's collapsing credit impulse - expectations were for a further acceleration in January...
And they did - both import and export prices indices tumbled more than expected into deflationary territory:
Under the hoods:
Import prices ex-fuels fell 0.2% after no change in Dec.
Import - Prices - Ex-petroleum - % - %
Import prices ex-petroleum fell 0.7% after rising 0.3% in Dec.
Import prices ex-food and fuel unchanged y/y in Jan.
Industrial - Supplies - Prices - % - %
Industrial supplies prices fell 1.7% after falling 3.8% in Dec.
Auto prices fell 0.2% after rising 0.1% in...
Wake Up To Breaking News!
It is time to put away the our toys and propaganda we've been taught as children and think for ourselves.