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Economy in Brief
U.S. Index of Leading Indicators Fell in April
Five of the index's components fell in April, one was unchanged and four increased...
U.S. Unemployment Claims Rose in the Latest Week
The state insured rates of unemployment in regular programs vary widely...
U.S. Housing Starts Dip in April but Remain Elevated
The pattern of housing construction activity seems to be shifting toward multifamily...
U.S. Mortgage Applications Continued to Slide Amid Higher Rates
The biggest declines have been in refinancing activity, while applications for purchase are just starting to crack...
UK Inflation Jumps
Inflation is at the highest rate since the series began in January of 1989...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
Profits and Margins Plunge In Q1: Expect More Margin Contraction As Fed Squeezes Inflation
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation & Fed Policy: A Relationship Which Should Worry The Fed And Scare Investors
Why Have the Yields on TIPS Been Negative in the Past Two Years?
by Tom Moeller November 15, 2018
Import prices increased 0.5% (3.5% y/y) during October following a 0.2% September rise, revised from 0.5%. A 0.1% uptick had been expected in the Action Economics Forecast Survey. These figures are not seasonally adjusted.
Strength in import prices last month was led by 2.8% increase (31.4% y/y) in petroleum prices following a 0.9% gain, revised from 4.1%. Nonpetroleum import prices improved 0.2% (0.8% y/y) following stability in September. Industrial supplies & materials costs rose 1.5% (14.2% y/y) following a 0.1% rise. Industrial materials prices excluding petroleum recovered 0.5% (3.8% y/y) after falling for three months. Capital goods prices eased 0.1% (-0.2% y/y) following the prior month's stability. Motor vehicle & parts prices gained 0.1% (0.2% y/y) after holding steady for three straight months. Nonauto consumer goods prices eased 0.1% (+0.7% y/y) following no change for two consecutive months.
Export prices rose 0.4% (3.1% y/y) in October after holding steady in September, which was unrevised. A 0.1% rise in prices had been expected.
Agricultural commodities prices fell 0.3% last month (-4.5% y/y) after declining 1.3% in September. Nonagricultural costs improved 0.5% (3.9% y/y) in October and added to the 0.2% September rise. Foods, feeds & beverage prices were little-changed (-4.6% y/y) following a 1.4% decline. The cost of industrial supplies & materials gained 1.4% (9.4% y/y) after falling in two of the prior three months. Excluding fuels & building materials, these prices rose 0.3% (3.7% y/y). Capital goods prices held steady (1.5% y/y) for the second straight month. Motor vehicle & parts prices improved 0.1% (0.8% y/y), for a second consecutive month. Nonauto consumer goods prices eased 0.2% (+0.4% y/y) after easing 0.1% for two straight months.
The import and export price series can be found in Haver's USECON database. Detailed figures are available in the USINT database. The expectations figure from the Action Economics Forecast Survey is in the AS1REPNA database.
Import/Export Prices (NSA, %) | Oct | Sep | Aug | Oct Y/Y | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|
Imports - All Commodities | 0.5 | 0.2 | -0.4 | 3.5 | 2.9 | -3.3 | -10.2 |
Petroleum & Petroleum Products | 2.8 | 0.9 | -2.1 | 31.4 | 26.6 | -19.7 | -46.0 |
Nonpetroleum | 0.2 | 0.0 | -0.2 | 0.8 | 1.1 | -1.5 | -2.8 |
Exports - All Commodities | 0.4 | 0.0 | -0.1 | 3.1 | 2.4 | -3.2 | -6.3 |
Agricultural | -0.3 | -1.3 | 0.3 | -4.5 | 1.5 | -5.4 | -13.3 |
Nonagricultural | 0.5 | 0.2 | -0.2 | 3.9 | 2.5 | -3.0 | -5.5 |