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Economy in Brief
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French Surveys Improve Despite Ongoing Virus Issues
The spread of the virus in Franc is still untamed...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller January 10, 2018
Import prices overall ticked 0.1% higher during December following a 0.8% November increase, revised from 0.7%. From December of 2016 to December of 2017, prices increased 3.0%. A 0.4% gain had been expected during last month in the Action Economics Forecast Survey. These figures are not seasonally adjusted.
The increase in import prices last month was led by a 2.0% rise (20.6% y/y) in petroleum prices following an 8.1% jump. Nonpetroleum import prices declined 0.2% (+1.3% y/y) and countered November's rise. The y/y gain reversed the decline in 2016. Industrial supplies & materials prices improved 0.7% (12.3% y/y) after a 4.0% strengthening. Industrial supplies prices excluding petroleum fell 0.3% (+7.1% y/y) following a 1.5% rise. Auto prices remained steady (-0.3% y/y) after a 0.1% uptick, while nonauto consumer goods prices eased 0.1% (+0.2% y/y) following no change. Capital goods prices held steady (0.7% y/y) after a 0.1% dip. Foods, feeds & beverage prices declined 0.7% (+0.6% y/y), the third consecutive monthly decline.
Total export prices eased 0.1% following a 0.5% gain. From December-to-December, prices increased 2.6%. A 0.3% rise for last month had been expected.
Lower agricultural prices led last month's overall export price decline with a 0.4% drop (+1.8% y/y). It followed a 0.8% fall. Nonagricultural prices held steady (2.7% y/y) after a 0.6% gain. Industrial supplies & materials costs fell 0.3% (+5.8% y/y) after a 2.0% jump. Industrial supplies prices excluding fuels slipped 0.1% (+3.5% y/y) following a 0.8% increase. Foods, feeds & beverage prices declined 0.6% (+2.2% y/y), the third decline in four months. Capital goods prices improved 0.1% (1.5% y/y) after a 0.1% dip. Auto prices also slipped 0.1% (+0.6% y/y) for a second straight month. Consumer goods prices excluding autos increased 0.2% (0.5% y/y) after a 0.1% dip.
The import and export price series can be found in Haver's USECON database. Detailed breakdowns into individual types of commodities, equipment and many types of nondurable goods are available in the USINT database. The expectations figure from the Action Economics Forecast Survey is in the AS1REPNA database.
Import/Export Prices (NSA, %) | Dec | Nov | Oct | Dec Y/Y | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|
Imports - All Commodities | 0.1 | 0.8 | 0.2 | 3.0 | 2.9 | -3.3 | -10.2 |
Petroleum | 2.0 | 8.1 | 0.5 | 20.6 | 26.2 | -19.7 | -46.0 |
Nonpetroleum | -0.2 | 0.2 | 0.0 | 1.3 | 2.1 | -1.5 | -2.8 |
Exports - All Commodities | -0.1 | 0.5 | 0.1 | 2.6 | 2.4 | -3.2 | -6.3 |
Agricultural | -0.4 | -0.8 | 2.0 | 1.8 | 1.5 | -5.4 | -13.3 |
Nonagricultural | 0.0 | 0.6 | -0.1 | 2.7 | 2.4 | -3.0 | -5.5 |