motor vehicles – One America News Network

US import prices post largest drop in eight months

Import prices dropped by the most in eight months in August, suggesting that domestic inflation will continue to subside in the months ahead.

Consumer spending increased solidly in July, arguing against a half-percentage-point interest rate cut from the Federal Reserve next month.

U.S. prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services.

U.S. retail sales barely rose in May, suggesting that economic activity remained lackluster in the second quarter.

Economists cautioned the decline may be due to winter storms and technical factors.