Recent Updates

  • US: Wholesale Trade (Oct), Consumer Sentiment (Dec-Prelim), Employment Situation (Nov)
  • US: Consumer Sentiment (Dec-prelim)
  • Lebanon: Public Debt (Oct-Prelim)
  • US: US Sector PMI (Nov)
  • more updates...

Economy in Brief

U.S. Import Prices Rise With Oil Costs; Export Prices Fall
by Tom Moeller  October 11, 2019

Import prices increased 0.2% (-1.6% y/y) during September following a 0.2% August decline, revised from -0.5%. A 0.1% easing had been expected in the Action Economics Forecast Survey. These figures are not seasonally adjusted and do not include import duties.

The small rise in import prices last month was impacted by lower nonpetroleum import costs. They eased 0.1% (-1.1% y/y) after holding steady for two straight months. Petroleum prices rose 2.3% (-5.8% y/y) and reversed August's decline. Industrial supplies & materials costs excluding petroleum increased minimally (-3.3% y/y) after falling for four consecutive months. Motor vehicles & parts prices improved 0.1% (-0.5% y/y) after a 0.2% gain and nonauto consumer goods prices edged 0.1% higher (-0.4% y/y). Capital goods prices were unchanged (-1.1% y/y) for a second straight month. Foods, feed and beverage prices declined 0.3% (+1.2% y/y), off for the fourth consecutive month.

Export prices slipped 0.2% (-1.8% y/y) following a 0.6% decline. A 0.1% dip had been expected. Agricultural commodities prices dropped 1.8% last month (+0.2% y/y) after falling 2.3%. Nonagricultural export costs edged 0.1% lower (-1.9% y/y) after falling 0.3%. Industrial supplies & materials decreased 0.3% (-6.5% y/y), down for the fourth month in the last five. Motor vehicle & parts prices edged down 0.1% (+0.1% y/y), also off for the fourth month in five. Capital goods prices held steady (0.6% y/y) and nonauto consumer goods prices fell 0.3% (+0.5% y/y). Foods, feeds & beverage prices declined 1.6% (+1.5% y/y) after a 2.1% fall.

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, %) Sep Aug Jul Sep Y/Y 2018 2017 2016
Imports - All Commodities 0.2 -0.2 0.0 -1.6 3.1 2.9 -3.3
  Petroleum & Petroleum Products 2.3 -2.3 0.2 -5.8 22.0 26.6 -19.7
  Nonpetroleum -0.1 0.0 0.0 -1.1 1.3 1.1 -1.5
Exports - All Commodities -0.2 -0.6 0.2 -1.8 3.4 2.4 -3.2
  Agricultural -1.8 -2.3 0.2 0.2 0.6 1.5 -5.4
  Nonagricultural -0.1 -0.3 0.2 -1.9 3.7 2.5 -3.0
close
large image