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| May Import Prices/April Trade Data - Jun. 10, 2005 |
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Summary
The Labor Department reported this morning that import prices fell 1.3% during May, due largely to a sizable decline in oil prices. Elsewhere, the Commerce Department reported that the nation's trade deficit for April came in at 57.0 billion.
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I will publish more comprehensive analyses of today's import price and trade figures soon. In the meantime, the Labor Department report of earlier today indicated that import prices fell 1.3% in May, led by a 6.5% decline in the price of oil imports.
Elsewhere, the Commerce Department reported that the nation's trade deficit rose to $57.0 billion in April, up approximately $3.4 billion from March's revised red ink of $53.6 billion. The March deficit was originally reported at $55.0 billion.
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