Global| Aug 12 2004Import Prices Up Slightly
by:Tom Moeller
|in:Economy in Brief
Summary
Import prices rose 0.2% last month following a 0.1% dip in June.The Consensus expectation had been for a 0.4% rise. Non-petroleum import prices rose a slight 0.1% after being unchanged in June. Capital goods prices fell for the third [...]
Import prices rose 0.2% last month following a 0.1% dip in June.The Consensus expectation had been for a 0.4% rise.
Non-petroleum import prices rose a slight 0.1% after being unchanged in June. Capital goods prices fell for the third month in the last four (-1.7% y/y) but capital goods prices excluding computers rose 0.4% (+0.8% y/y), up due to higher prices for electric generating equipment (+0.8% y/y). Non-auto consumer goods prices were unchanged (+0.4% y/y) as they have been for most of this year.
Petroleum prices rose recouped all of the prior month's 0.9% decline and have moved higher in August. The price of Brent crude rose to $43.30 yesterday and has averaged nearly $43.00 versus $38.10 in July.
Export prices rose 0.4%, led higher by a 0.6% jump in nonagricultural export prices (+3.5% y/y).
| Import/Export Prices (NSA) | July | June | Y/Y | 2003 | 2002 | 2001 |
|---|---|---|---|---|---|---|
| Import - All Commodities | 0.2% | -0.1% | 5.5% | 2.9% | -2.5% | -3.5% |
| Petroleum | 0.9% | -0.9% | 29.5% | 21.0% | 3.0% | -17.2% |
| Non-petroleum | 0.1% | 0.0% | 2.4% | 1.1% | -2.4% | -1.5% |
| Export - All Commodities | 0.4% | -0.7% | 4.4% | 1.6% | -1.0% | -0.8% |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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