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                                    U.S. IMPORT AND EXPORT PRICE INDEXES
                                              - FEBRUARY 2008 -

   The U.S. Import Price Index advanced 0.2 percent in February, the Bureau of Labor Statistics of 
the U.S. Department of Labor reported today, as a 0.6 percent increase in nonpetroleum prices more than 
offset a 1.5 percent downturn in petroleum prices.  Prices for U.S. exports rose 0.9 percent in February 
after increasing 1.2 percent the previous month.

                              Percent changes in import and export price indexes
                                             by End Use category
                                         - not seasonally adjusted -
   

Import Goods
   
   Import prices ticked up 0.2 percent in February following a 1.6 percent increase in January.  The 
index advanced 13.6 percent over the past year.  Petroleum prices fell for the second time in three 
months in February, declining 1.5 percent after rising 4.8 percent in January.  Prices increased 60.9 
percent for the year ended in February.  Nonpetroleum prices advanced 0.6 percent in February after a 
0.7 percent increase the previous month.  The price index for nonpetroleum prices was up 4.5 percent 
over the past 12 months.      
   
   A 2.5 percent increase in nonpetroleum industrial supplies and materials prices was the largest 
contributor to the overall February rise in nonpetroleum prices.  That advance was led by higher prices 
for natural gas, metals, and fertilizers.  Prices for nonpetroleum industrial supplies and materials rose 
12.5 percent over the past year.     

   The price indexes for consumer goods, automotive vehicles, and capital goods all ticked up in 
February, rising 0.3 percent, 0.2 percent, and 0.1 percent, respectively.  The February increase in 
consumer prices was led by an advance in jewelry prices and came after a 0.5 percent rise in January.  
The increase for capital goods followed a 0.3 percent downturn the previous month.   
   
   In contrast, foods, feeds, and beverages prices edged down 0.1 percent, the first decline for the 
index since a 0.2 percent decrease in March of last year.  Despite the downturn, prices for foods, feeds, 
and beverages rose 11.0 percent over the past year.  


Export Goods 

   The 0.9 percent increase in export prices in February followed a 1.2 percent advance in January 
which was the largest monthly rise for the index since January 1989.  The index rose 6.8 percent for the 
year ended in February.   The price indexes for agricultural exports and nonagricultural exports each 
contributed to the overall increase last month.  Agricultural prices rose 4.4 percent in February following 
a 5.0 percent increase the previous month and the index advanced 30.8 percent for the year ended in 
February, the largest 12-month rise since September 1988.  Higher prices for wheat, corn, and soybeans 
all factored into both the February and year-over-year increases.    Nonagricultural prices increased 0.5 
percent in February after rising 0.8 percent in January, and rose 4.6 percent over the past year.      
   
   The increase in nonagricultural exports was led by a 1.1 percent rise in the price index for 
nonagricultural industrial supplies and materials.  Prices for nonagricultural industrial supplies and 
materials had advanced 1.9 percent in January and rose 10.7 percent over the past 12 months.  The 
February increase was primarily driven by higher metals prices which more than offset lower prices for 
fuel.    
   
   Each of the major finished goods price indexes advanced in February as well.  Capital goods 
prices increased 0.4 percent, the largest monthly rise for the index since a similar 0.4 percent advance in 
January 2006.  Higher prices for transportation equipment, industrial service machinery, and computers 
all factored into the February increase.  Consumer goods prices and prices for automotive vehicles also 
advanced in February, rising 0.4 percent and 0.1 percent, respectively.  


Imports by Locality of Origin 
	
   The price index for imports from China ticked up 0.1 percent in February following a 0.8 percent 
jump in January.   Import prices from China last recorded a monthly decline in January 2007 and rose 
3.4 percent for the year ended in February after dropping 0.9 percent for the previous 12-month period.  
Prices of imports from Japan also continued to trend upward in February, advancing 0.3 percent for the 
second time in the past three months.  The index was up 0.7 percent for the February 2007-2008 period. 
   
   Import prices from the European Union and from Canada rose 0.6 percent and 0.1 percent, 
respectively, in February.  The price index for imports from the European Union had risen 1.6 percent in 
January and advanced 5.0 percent over the past year.  Import prices from Canada were up 2.4 percent in 
January and 13.7 percent for the year ended in February. 
    
   In contrast, prices for imports from Mexico declined 1.2 percent in February, the first monthly 
decrease for the index since January 2007.  Despite the February drop, the index advanced 17.3 percent 
over the past 12 months.
   
   
Import and Export Services

   Import air passenger fares declined 1.1 percent in February, the fifth decrease in the past six 
months.  Despite the recent downward trend, the index rose 6.7 percent for the year ended in February.  
The price index for export air passenger fares fell 7.1 percent in February, but increased 8.8 percent over 
the past year.  Lower fares for Asia, the Latin America-Caribbean region, and Europe all contributed to 
the February decline.   
	
   The price index for import air freight advanced 0.6 percent in February after edging down 0.1 
percent in January.  Import air freight prices increased 9.0 percent over the past 12 months.  Export air 
freight prices ticked up 0.1 percent in February following a 3.0 percent rise the previous month.  The 
index rose 13.0 percent for the year ended in February.


CONTENTS OF RELEASE

This news release includes the following tables:

Table 1    U.S. Import Price Indexes, by End Use
Table 2    U.S. Export Price Indexes, by End Use
Table 3    U.S. Import Price Indexes, by NAICS
Table 4    U.S. Export Price Indexes, by NAICS
Table 5    U.S. Import Price Indexes, by Harmonized System
Table 6    U.S. Export Price Indexes, by Harmonized System
Table 7    U.S. Import Price Indexes, by Locality of Origin
Table 8    U.S. International Price Indexes for Selected Transportation Services
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Import and Export Price Index data for March are scheduled for release on April 11 at 
8:30 A.M. (EDT)