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The prices of goods imported into the United States fell in May even as tariffs increased on goods from China.
Prices for U.S. imports declined 0.3 percent in May, the U.S. Bureau of Labor Statistics reported Thursday. Import prices had been rising since December and advanced 0.1 percent in April. Compared with a year ago, import prices are down 1.5 percent.
Rise - January - April - Period - Fuel
The rise over the January through April period, however, was driven by higher fuel prices. Imported fuel prices rose 25.4 percent in the first four months of the year. In May, they declined by 0.1 percent.
Prices for nonfuel imports fell 0.3 percent in May following a 0.1 percent decline in April and a 0.2 percent decrease in March.
Prices - Goods - China - Percent - Percent
Prices for imported goods from China fell 0.1 percent and are down 1.4 percent from a year ago. The prices are measured before any tariffs are applied, so the lower prices indicate that China is absorbing at least some of the cost of the additional import duties.
Exporting countries can bear the burden of tariffs if the...
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