US import rates decline

US import rates decline

The global oil prices declines seems to have affected every major economy in the world. Though it has prevented the inflation in the developing economies, the developed ones like the United States are suffering from dip in the import. As per the latest data, US import prices are decreasing.

According to the Labor Department figures, the import prices were reduced by 0.3 percent last month after another 0.2 percent loss in the month of February this year. The economists had already projected this dip of 0.3 percent and potential rise if prices increase for seven consecutive months. This is the largest drop in prices since the September 2009. The US stock exchange has responded with mixed reactions over these developments. The values of the United States public debt remains the same. The dollar has managed to gain against few currencies.

The inflation target of 2 percent by the Federal Reserve looks manageable now as low crude oil rates along with cheerful dollar will contribute towards this goal. The officers of the America’s central banker look at this long term low inflation favorable to the interest rate hike. The next policy setting meeting is scheduled in June this year.

The rate hike expectations by many experts have went in vain due to low inflation and slow economic growth rates during the first quarter. The next chance for the tightening of the monetary policy will only begin around 2016, according to the economists. Since December 2008 the federal reserve have kept short term interest rate to zero.
 

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