US import prices drop for 18-month in a row

The data released in the US showed import prices dropped 18th month in a row, the longest deflationary streak since 1999.

Feb import prices printed at -0.3% after -1.0% reading in Jan, maintaining its downward trend that puts the annualized decline at -6.1%.

Import prices ex. food and fuels came-in at +0.1% after 0.1% drop in Dec. For core import prices, this was the first rise since May 2014.