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Economy in Brief

Export and Import Prices Pop But Ex-Oil Import Prices Barely Budge
by Robert Brusca September 11, 2009

US export and import prices remained tame in August. Headline prices shot up as oil prices scored double-digit gains in the month. For exports the headline rise was spurred by industrial supplies and the US does export some oil. Agricultural export prices were tame. Export prices excluding agriculture rose by a sharp 0.8%. Import prices excluding petroleum rose by 0.4% (after a 0.3% drop in July). The headline price gains were more ominous-looking with an import prices up by 2% and export prices gaining 0.7%

If you look up and down the export and import categories you see tempered price trends with the exception of petroleum prices and industrial supplies, the category that contains industrial supplies.

The US is not importing any inflation. This is just another example of how weak the global economies still are. The dollar has been weaker and oil prices have been rising but inflation is not getting any traction.

Export and Import Prices
  M/MO Saar
IMPORTS Aug-09 Jul-09 Jun-09 3-MO 6-MO 12-MO
ALL Imports 2.0% -0.7% 2.7% 17.5% 15.8% -15.0%
  Excl Petrol 0.4% -0.3% 0.2% 1.1% -1.1% -6.5%
  Petrol 10.5% -2.6% 17.2% 152.5% 193.7% -38.1%
Foods Feeds and Beverages 1.7% -1.0% 0.4% 4.7% 4.4% -6.4%
Industrial Supplies 6.1% -1.8% 8.8% 65.6% 62.8% -31.7%
Capital goods 0.1% 0.0% 0.0% 0.4% -0.6% -1.5%
Motor Vehicles & parts 0.2% 0.1% 0.1% 1.5% 0.7% 0.0%
Consumer goods excl autos -0.2% -0.2% 0.1% -1.1% -1.0% -1.2%
  M/MO Saar
EXPORTS Aug-09 Jul-09 Jun-09 3-MO 6-MO 12-MO
ALL Exports 0.7% -0.3% 1.0% 5.6% 3.3% -6.1%
Agriculture 0.2% -4.9% 4.2% -2.7% 6.1% -14.1%
Non Agriculture 0.8% 0.1% 0.6% 6.1% 3.2% -5.3%
Food Feeds and Beverages -0.1% -5.6% 4.4% -5.6% 3.5% -13.0%
Industrial Supplies 2.3% 0.0% 2.0% 18.3% 8.4% -17.5%
Capital Goods 0.1% 0.3% 0.1% 2.0% 2.4% 1.6%
Motor Vehicles & Parts 0.1% -0.2% -0.1% -0.7% -0.4% 0.1%
Consumer goods excl autos 0.3% 0.4% 0.4% 4.1% -0.5% 0.0%
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