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BLS Report: U.S. import prices fall 1.6% in November; export prices down 0.9% on lower fuel prices
U.S. import prices fall 1.6% in November; export prices down 0.9% on lower fuel prices
Economic News Release USDL-18-1940
U.S. Import and Export Price Indexes summary
Transmission of material in this release is embargoed until 8:30 a.m. (EST) Thursday, December 13, 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 - NOVEMBER 2018
U.S. import prices declined 1.6 percent in November, the U.S. Bureau of Labor Statistics reported today, following a 0.5-percent rise the previous month. The November drop was primarily led by lower fuel prices. The price index for U.S. exports fell 0.9 percent in November, after advancing 0.5 percent in October.
Imports
Prices for U.S. imports decreased 1.6 percent in November, the largest monthly decline since a 1.8-percent drop in August 2015. Despite the November drop, import prices increased 0.7 percent over the past 12 months, the smallest over-the-year advance since the index increased 0.2 percent from November 2015 to November 2016. (See table 1.)
Fuel Imports: Import fuel prices decreased 11.0 percent in November following a 3.2-percent rise the previous month. The November drop was the largest 1-month decline since the index fell 15.6 percent in January 2016. A 12.1-percent decrease in petroleum prices led the November decline in fuel prices and was the largest monthly drop since petroleum prices fell 17.2 percent in January 2016. The November decline in petroleum prices more than offset a 12.8-percent advance in natural gas prices that followed a 22.3-percent increase for that index in October. Despite the decrease in November, fuel prices rose 4.6 percent over the past year. The price index for petroleum increased 4.4 percent for the year ended in November, and natural gas prices advanced 11.6 percent over the same period.
All Imports Excluding Fuel: Prices for nonfuel imports fell 0.3 percent in November, after ticking up 0.1 percent in October. Lower foods, feeds, and beverages prices were the largest factor for the November decline in nonfuel prices, although prices for nonfuel industrial supplies and materials and capital goods also decreased. The price index for nonfuel imports increased 0.3 percent over the past 12 months, driven by higher prices for nonfuel industrial supplies and materials; consumer goods; and automotive vehicles.
Nonfuel Industrial Supplies and Materials: Nonfuel industrial supplies and materials prices fell 0.4 percent in November, after recording no change the previous month. The decline was led by a 0.7-percent drop in unfinished metals prices and a 1.4-percent drop in prices for selected building materials.
Finished Goods: Finished goods prices recorded little movement in November. The price index for capital goods edged down 0.1 percent and prices for consumer goods and automotive vehicles each recorded no change.
Foods, Feeds, and Beverages: Prices for foods, feeds, and beverages declined 2.2 percent in November following advances of 2.2 percent in October and 2.0 percent in September. The November downturn was led by a 10.8-percent drop in fruit prices.
....
Import and Export Price Index data for December are scheduled for release on Wednesday, January 16, 2019 at 8:30 a.m. (EST).
Economic News Release USDL-18-1940
U.S. Import and Export Price Indexes summary
Transmission of material in this release is embargoed until 8:30 a.m. (EST) Thursday, December 13, 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 - NOVEMBER 2018
U.S. import prices declined 1.6 percent in November, the U.S. Bureau of Labor Statistics reported today, following a 0.5-percent rise the previous month. The November drop was primarily led by lower fuel prices. The price index for U.S. exports fell 0.9 percent in November, after advancing 0.5 percent in October.
Imports
Prices for U.S. imports decreased 1.6 percent in November, the largest monthly decline since a 1.8-percent drop in August 2015. Despite the November drop, import prices increased 0.7 percent over the past 12 months, the smallest over-the-year advance since the index increased 0.2 percent from November 2015 to November 2016. (See table 1.)
Fuel Imports: Import fuel prices decreased 11.0 percent in November following a 3.2-percent rise the previous month. The November drop was the largest 1-month decline since the index fell 15.6 percent in January 2016. A 12.1-percent decrease in petroleum prices led the November decline in fuel prices and was the largest monthly drop since petroleum prices fell 17.2 percent in January 2016. The November decline in petroleum prices more than offset a 12.8-percent advance in natural gas prices that followed a 22.3-percent increase for that index in October. Despite the decrease in November, fuel prices rose 4.6 percent over the past year. The price index for petroleum increased 4.4 percent for the year ended in November, and natural gas prices advanced 11.6 percent over the same period.
All Imports Excluding Fuel: Prices for nonfuel imports fell 0.3 percent in November, after ticking up 0.1 percent in October. Lower foods, feeds, and beverages prices were the largest factor for the November decline in nonfuel prices, although prices for nonfuel industrial supplies and materials and capital goods also decreased. The price index for nonfuel imports increased 0.3 percent over the past 12 months, driven by higher prices for nonfuel industrial supplies and materials; consumer goods; and automotive vehicles.
Nonfuel Industrial Supplies and Materials: Nonfuel industrial supplies and materials prices fell 0.4 percent in November, after recording no change the previous month. The decline was led by a 0.7-percent drop in unfinished metals prices and a 1.4-percent drop in prices for selected building materials.
Finished Goods: Finished goods prices recorded little movement in November. The price index for capital goods edged down 0.1 percent and prices for consumer goods and automotive vehicles each recorded no change.
Foods, Feeds, and Beverages: Prices for foods, feeds, and beverages declined 2.2 percent in November following advances of 2.2 percent in October and 2.0 percent in September. The November downturn was led by a 10.8-percent drop in fruit prices.
....
Import and Export Price Index data for December are scheduled for release on Wednesday, January 16, 2019 at 8:30 a.m. (EST).
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