US import prices fell 2.5% in December, the largest 1-month drop in 6 years, the Labor Department reported today. Lower fuel prices have pushed import product prices down in recent months.
US business inventories, however, rose in November by a seasonally adjusted rate of 0.2%, according to the US Census Bureau. The November reading was in line with forecasts.
Declining oil prices have also caused Alberta-based energy company Suncor to slash its 2015 capital spending budget by about $1 billion. It will also be shedding 1,000 people from its workforce.
Chipotle is having issues with is pork supplier. The company has stopped the sale of pork – or carnitas – at about one-third of its restaurants because the supplier did not meet Chipotle’s animal welfare standards.