Global| May 12 2016U.S. Import Prices Continue to Increase; Nonoil Prices Rise
by:Tom Moeller
|in:Economy in Brief
Summary
Import prices increased 0.3% during April (-5.7% y/y) following a 0.3% March rise, revised from 0.2%. The increase was softer than the 0.6% gain expected in the Action Economics Forecast Survey. These figures are not seasonally [...]
Import prices increased 0.3% during April (-5.7% y/y) following a 0.3% March rise, revised from 0.2%. The increase was softer than the 0.6% gain expected in the Action Economics Forecast Survey. These figures are not seasonally adjusted.
Petroleum import prices strengthened 4.1% (-37.4% y/y) following a 9.6% jump, revised from 6.5%. Nonpetroleum import prices improved 0.1% (-2.2% y/y) following a 0.1% dip, revised from -0.2%. It was the first rise in prices since March 2014. Foods, feeds & beverage prices jumped 1.3% (-2.2% y/y) following a 0.4% shortfall. Nonoil industrial supplies & materials costs increased 0.4% (-7.9% y/y), the first rise since December 2014. Motor vehicle & parts prices improved 0.1% (-0.8% y/y) for a second month. Capital goods prices were off 0.1% (-2.0% y/y), and they've been falling steadily since August 2014. Nonauto consumer goods prices dropped 0.3% (-0.4% y/y) for the second straight month.
Export prices increased 0.5% (-5.0% y/y) following an unrevised no change. It was the first increase since May last year. No change had been expected.
Agricultural commodity prices rose 0.5% (-9.7% y/y) after a 2.3% decline. Nonagricultural commodity prices also improved 0.5 (-4.6% y/y) following a 0.3% increase. Industrial supplies & materials costs jumped 1.2% (-12.5% y/y) after a 0.6% rise. Foods, feeds & beverage prices rebounded 0.8% (-9.4% y/y) following a 2.3% decline. Capital goods prices rose 0.4% (-0.1% y/y) after smaller increases in the previous two months. Motor vehicle & parts prices remained unchanged (-0.7% y/y) following two declines of 0.2%. Nonauto consumer goods prices eased 0.1% (-1.8% y/y) on the heels of a 0.1% uptick.
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, %) | Apr | Mar | Feb | Apr Y/Y | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|
| Imports - All Commodities | 0.3 | 0.3 | -0.5 | -5.7 | -10.2 | -1.1 | -1.1 |
| Petroleum | 4.1 | 9.6 | -7.3 | -37.4 | -46.0 | -5.6 | -2.6 |
| Nonpetroleum | 0.1 | -0.1 | -0.2 | -2.2 | -2.8 | 0.1 | -0.6 |
| Exports - All Commodities | 0.5 | 0.0 | -0.4 | -5.0 | -6.3 | -0.5 | -0.4 |
| Agricultural | 0.5 | -2.3 | 0.6 | -9.7 | -13.3 | -2.7 | 1.6 |
| Nonagricultural | 0.5 | 0.3 | -0.6 | -4.6 | -5.5 | -0.3 | -0.7 |
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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