Recent Updates
- US: Retail & Wholesale Trade Revisions, Advance Durable Goods (Apr)
- Bulgaria Services Turnover Index Rebased to 2015=100
- Turkey: Sectoral Confidence Indexes, Business Tendency Survey, Capacity Utilization Rates (May); Mozambique: BOP (Q1), Foreign Trade (Mar)
- Germany: Ifo Business Climate (May), Construction Orders, Employment, & Turnover (Mar)
- UK: Business Investment, GDP 2nd Release (Q1)
- Spain: PPI (Apr)
- more updates...
Economy in Brief
Step Back for German IFO Gauge
The IFO business climate gauge fell by 0.5% in May, marking two straight months of decline...
U.S. Existing Home Sales Decline While Prices Rise
The NAR reported that sales of existing homes declined 2.5% during April (-1.4% y/y) to 5.460 million units (AR)...
U.S. FHFA House Price Index Strength Wanes
The FHFA U.S. house price index ticked 0.1% higher (6.7% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Rise
Initial unemployment insurance claims increased to 234,000 (-1.3% y/y) during the week ended May 19...
French Surveys Show Tilt to Weakness
The INSEE manufacturing survey shows a steady reading for industry climate in May...
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 |
