Trade price inflation continues to accelerate in the U.S. with the headline import inflation rate reaching 3.3% in November from 2.4% in October. The was driven by food and fuels, but excluding those the underlying rate of 1.4% was still the fastest since April 2012. The headline export price rise was 3.1% by comparison. Rising import price inflation has been a driver of the expanding U.S. trade deficit, which climbed 13% on a year earlier in October. Import volumes via sea climbed 6% in November, while initial port data from California and Virginia indicates exports volumes have lagged ...
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