Recessions in the third world and sluggish growth in Europe have kept the dollar up and American import prices down.

ECONOMIST: Beyond the business cycle?

Because of the loss of wealth that is itself due to a falling currency, the American dollar-holder can't import as readily as in the past simply because the dollar doesn't buy as much.

FORBES: The sheer folly of currency devaluation.

It would also help to silence American car makers who have seen their profits squeezed by the strong dollar and who might otherwise lobby for new import barriers.

ECONOMIST: The dollar��s looking peaky

The effects of passed-on energy costs, as well as higher import prices stemming from a weaker dollar, have probably not run their course, so core inflation may edge higher in the months to come.

ECONOMIST: The economy

If you needed more evidence of the dollar devaluation, producer prices are up 5.8% and import prices surged 9.7% YOY.

FORBES: Inflation Destroys Real Wages

The spending of petrodollars also helps the dollar less than the euro, because oil-producing countries tend to import more from Europe than America.

ECONOMIST: Economics focus

If we import more than we export, as we are wont to do, dollar balances will build up abroad and be available for more exports from the United States.

FORBES: Jobs Jobs Jobs - Trade Trade Trade

The falling dollar is a risk, it is true, but it has yet to have an effect: import prices have been broadly flat over the past year.

ECONOMIST: American interest rates

Venezuela's government has stopped issuing import permits, nor is it providing dollars at the official exchange rate for imports from Colombia (a dollar costs almost three times more on the parallel market).

ECONOMIST: Hugo Ch��vez stamps out regional economic integration