Food on display at New York's LaGuardia Airport's newly renovated Terminal B in New York City on June 10, 2020.U.S. import prices increased by the most in more than a year in May, driven by higher costs for petroleum products and food, which could further diminish fears of deflation as the economy battles a recession.
Import prices rose 1.0% last month, the largest gain since February 2019, after falling 2.6% in April. Economists polled by Reuters had forecast import prices, which exclude tariffs, increasing 0.6% in May. In the 12 months through May, import prices decreased 6.0% after dropping 6.8% in April. Excluding fuels and food, import prices dipped 0.1% last month after falling 0.5% in April. The so-called core import prices declined 0.7% in the 12 months through May.
globebusiness What a wonderful new trade deal the Liberals struck. Did anyone really expect the results to be different?
globebusiness Canadian production are the coolest
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