Going Down! Export Prices Rise To 18.8% YoY (Highest In History) While Import Prices Rise To 12.5% YoY (Mortgage Credit Availability Plunge With Covid)

Like what Freddie King sang (Going down), we are going down the drain.

Export prices by end us YoY is up to 18.8%, the highest in recorded history (or since 1983 when they started recording export prices).

Import prices by end use rose to 12.5% YoY.

Unrelated to US export and import prices, the MBA’s mortgage credit availability index slumped with the Covid outbreak and the explosion of The Fed’s Balance Sheet. As I have said before, nothing has been the same since Covid.

Like Freddie King, “I’m Feeling Torn Down” by rising prices.

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