U.S. import prices up 1.0% in January led by higher fuel prices; export prices rise 0.8%
Source: U.S. Bureau of Labor Statistics
U.S. import prices up 1.0% in January led by higher fuel prices; export prices rise 0.8%
Economic News Release USDL-18-0241
Transmission of material in this release is embargoed until 8:30 a.m. (EST) Friday, February 16, 2018
Technical information: (202) 691-7101 * MXPinfo@bls.gov * www.bls.gov/mxp
Media contact: (202) 691-5902 * PressOffice@bls.gov
U.S. IMPORT AND EXPORT PRICE INDEXES - JANUARY 2018
U.S. import prices increased 1.0 percent in January, the U.S. Bureau of Labor Statistics reported today, after rising 0.2 percent in December. Higher prices for both nonfuel imports and fuel imports contributed to the January advance. Prices for U.S. exports rose 0.8 percent in January following a 0.1-percent increase the previous month.
Imports
All Imports: The price index for U.S. imports rose 1.0 percent in January, after increases of 0.2 percent in December and 1.0 percent in November. The 1.0-percent advances were the largest 1-month rises since the index increased 1.2 percent in May 2016. Import prices advanced 3.6 percent between January 2017 and January 2018.
....
Exports
All Exports: U.S. export prices increased 0.8 percent in January. The index has not risen by more than 0.8 percent since the index advanced 1.1 percent in May 2016. In January, the increase in nonagricultural prices more than offset a decline in agricultural prices. The price index for exports increased 3.4 percent over the past 12 months.
Agricultural Exports: Prices for agricultural exports edged down 0.1 percent in January, after falling 0.3 percent the previous month. The January drop was driven by a 5.8-percent decline in soybean and other oilseeds prices. Despite the recent decreases, prices for agricultural exports rose 1.4 percent over the past year. Rising meat prices were the primary contributor to the advance in agricultural prices for the year ended in January.
All Exports Excluding Agriculture: Nonagricultural export prices advanced 0.9 percent in January following a 0.1-percent rise in December. The price indexes for nonagricultural industrial supplies and materials; capital goods; automotive vehicles; and consumer goods all rose in January. Prices for nonagricultural export indexes advanced 3.7 percent from January 2017 to January 2018, the largest 12-month increase since a 4.0-percent rise for the year ended December 2011.
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Import and Export Price Index data for February are scheduled for release on Thursday, March 15, 2018 at 8:30 a.m. (EDT).
Read more: https://www.bls.gov/news.release/ximpim.nr0.htm
Also, see this:
Real average hourly earnings decrease 0.2% in January
https://www.bls.gov/news.release/realer.nr0.htm
Prices are up, and wages are down.
SWBTATTReg
(22,183 posts)Where have I heard this story before? Hmmmm...
progree
(10,927 posts)https://www.bls.gov/news.release/realer.nr0.htm
Prices are up, and wages are down.
From https://www.bls.gov/news.release/realer.nr0.htm
seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This result stems from a
0.3-percent increase in average hourly earnings offset by a 0.5-percent increase in the Consumer Price
Index for All Urban Consumers (CPI-U).
And for the past 12 months, real (i.e. inflation-adjusted) wages are up 0.8%
2018.
Average hourly earnings (no inflation adjustment)
https://data.bls.gov/timeseries/CES0500000003
` ` ` Jan ` Feb ` ` Mar ` Apr ` May ` Jun ` Jul ` ` Aug ` Sep ` Oct ` Nov ` Dec
2017 25.99 26.07 26.11 26.17 26.21 26.26 26.34 26.39 26.51 26.47 26.54 26.65(P)
2018 26.74(P) ` ` ` (P) = Preliminary
Real (i.e. inflation-adjusted) average hourly earnings, 1982-1984 dollars
https://data.bls.gov/timeseries/CES0500000013
Zooming in on the Caligula months, real (inflation-adjusted) average hourly earnings, 1982-1984 dollars:
` ` ` Jan ` Feb ` ` Mar ` Apr ` May ` Jun ` Jul ` ` Aug ` Sep ` Oct ` Nov ` Dec
2017 10.65 10.68 10.71 10.72 10.75 10.76 10.78 10.76 10.76 10.73 10.73 10.75(P)
2018 10.73(P) ` ` ` (P) = Preliminary
mahatmakanejeeves
(57,675 posts)Link to the other thread, which does have some fine print:
Real average hourly earnings decrease 0.2% in January