Recent Updates

  • US: Consumer Prices (Nov)
  • US: Consumer Price Detail (Nov)
  • Canada: Capacity Utilization Rates (Q3)
  • Kazakhstan: Export & Import Prices (Oct), Wages (Nov)
  • Italy: Labor Force Survey (Q3)
  • Mexico: IP (Oct)
  • Ghana: CPI (Nov)
  • Bulgaria: CPI, HICP (Nov)
  • Spain: Petroleum Consumption, Property Transfers (Oct)
  • more updates...

Economy in Brief

U.S. Import and Export Price Declines Are Broad-Based
by Tom Moeller  August 13, 2015

Import prices moved 0.9% lower during July (-10.4% y/y) following no change during June, revised from -0.1%. The Action Economics Forecast Survey anticipated a 1.0% July decline.

Prices of petroleum imports fell 5.9% (-43.4% y/y) following a 1.6% rise. Nonpetroleum import prices were off 0.3% (-2.8% y/y). They've been flat or down in each month since March of last year. Industrial materials prices excluding petroleum declined 0.9% (-9.3% y/y), down regularly during the last year. Prices amongst the other end-use categories were mixed. Food, feed & beverage prices remained unchanged (-1.7% y/y) as did autos & parts prices (-1.4% y/y). Nonauto consumer goods prices declined 0.3% (-1.1% y/y) while capital goods prices eased 0.2% (-2.1% y/y).

Export prices slipped 0.2% (-6.1% y/y) following a 0.3% decline. A 0.3% drop had been expected. Agricultural prices rebounded 0.8% (-14.6% y/y) but nonagricultural costs eased 0.4% (-5.1% y/y). Overall industrial materials & supplies prices fell 1.2% (-13.5% y/y), reflecting a 1.2% decline (-31.1% y/y) in petroleum prices. Foods, feeds & beverage prices improved 1.8% (-14.4% y/y). Prices excluding foods and fuels continued lower by 0.4% (-2.3% y/y). Capital goods export prices dipped 0.1% (+0.2% y/y) while prices excluding computers & peripherals remained unchanged (0.9% y/y). Nonauto consumer goods prices eased 0.2% (-2.4% y/y) as did autos & parts prices (-0.4% y/y).

The import and export price series can be found in Haver's USECON database. Detailed figures, including the industrial materials excluding petroleum imports and the fuel & lubricant export items mentioned above, are available in the USINT database. The expectations figure from the Action Economics Forecast Survey is in the AS1REPNA database.

Is China's Growth Miracle Over? from the Federal Reserve Bank of San Francisco is available here.

Import/Export Prices (NSA, %) Jul Jun May Jul Y/Y 2014 2013 2012
Imports - All Commodities -0.9 0.0 1.2 -10.4 -1.1 -1.1 0.3
  Petroleum -5.9 1.6 11.7 -43.4 -5.6 -2.6 -0.3
  Nonpetroleum -0.3 -0.2 0.0 -2.8 0.1 -0.6 0.3
Exports - All Commodities -0.2 -0.3 0.5 -6.1 -0.5 -0.4 0.4
  Agricultural 0.8 -1.6 -1.3 -14.6 -2.7 1.6 2.4
  Nonagricultural -0.4 -0.2 0.7 -5.1 -0.3 -0.7 0.1
close
large image