Economic News Release

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                                   U.S. IMPORT AND EXPORT PRICE INDEXES
                                               - MAY 2009 -

   The U.S. Import Price Index increased for the third consecutive month in May, the Bureau of 
Labor Statistics of the U.S. Department of Labor reported today, rising 1.3 percent.  An 8.3 percent 
increase in petroleum prices was the primary contributor to the overall advance.  The U.S. Export Price 
Index rose 0.6 percent in May after increasing 0.4 percent in April.

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

Import Goods
   
   Prices of U.S. imports rose 1.3 percent in May, the third consecutive increase and largest 
monthly advance since a 1.4 percent advance in July 2008.  The May increase was led by an 8.3 percent 
gain in petroleum prices which followed a 28.6 percent increase from January through April.  Despite 
the recent jump in petroleum prices, the index fell 51.4 percent over the past year.  Nonpetroleum prices 
rose 0.2 percent in May, the first increase for the index since July 2008.  Prices for nonpetroleum 
imports decreased 5.8 percent for the year ended in May and overall import prices fell 17.6 percent for 
the same period.  
    
   The rise in nonpetroleum prices was driven primarily by a 0.6 percent advance in prices for 
nonpetroleum industrial supplies and materials, the first increase for that index since July 2008.  The 
increase was led by higher prices for nonferrous metals and chemicals, which more than offset lower 
iron and steel mill product prices.  Overall, nonpetroleum industrial supplies and materials prices 
declined 22.2 percent for the May 2008-2009 period.
   
   Prices for automotive vehicles and for foods, feeds, and beverages also contributed to the overall 
increase in nonpetroleum prices in May.  Automotive vehicle prices advanced 0.3 percent in May, the 
first monthly increase for the index since January.  The increase was driven by a 0.4 percent advance in 
passenger vehicle prices.  Foods, feeds, and beverages prices also rose 0.3 percent in May after a 1.4 
percent increase in April. 
   
   The price indexes for capital goods and consumer goods were both unchanged in May following 
increases of 0.1 percent and 0.2 percent, respectively, in April.  

Export Goods 

   Export prices rose 0.6 percent in May, the second consecutive advance and largest since a 0.7 
percent increase in January.  Despite the rise, export prices decreased 6.5 percent over the past 12 
months.  Agricultural prices rose 3.6 percent in May after a 3.7 percent advance the previous month.  In 
each month, the increase was led by a jump in soybean prices, which advanced 12.8 percent in May after 
a 12.9 percent rise in April.  Overall agricultural prices remained down 14.7 percent over the past 12 
months.  Nonagricultural prices increased 0.3 percent in May, but fell 5.6 percent over the past year.  
   
   The increase in nonagricultural prices was led by a 0.5 percent rise in the price index for 
nonagricultural industrial supplies and materials.  The advance in nonagricultural industrial supplies and 
materials prices followed a 0.3 percent increase in April, which was the first monthly rise for the index 
since July 2008.  Higher prices for nonferrous metals, fuel, and chemicals all contributed to the advance.  
Despite the May rise, prices for nonagricultural industrial supplies and materials fell 18.7 percent over 
the past 12 months.
   
   Export prices for both capital goods and consumer goods also rose in May, increasing 0.2 percent 
and 0.4 percent, respectively.  The increase in capital goods prices followed a 0.4 percent advance in 
April and the May rise in consumer goods prices was an upturn from the previous month when the index 
recorded a 0.9 percent decline.  
   
   The price index for automotive vehicles was unchanged in May after edging down 0.1 percent 
the previous month.  
   
Imports by Locality of Origin 
	
   Higher petroleum prices led import prices from Canada and from Mexico to rise in May, 
increasing 1.5 percent and 2.1 percent, respectively.  Despite the May advances, each index declined 
over the past 12 months--prices of imports from Canada fell 24.5 percent for the May 2008-2009 period 
and import prices from Mexico decreased 12.5 percent.  
    
   Import prices from China edged down 0.1 percent, the ninth consecutive month the index 
declined.  The price index for imports from China decreased 1.9 percent over the past year, the largest 
12-month decrease for the index, which was first published in 2003.
   
   Prices of imports from the European Union and from Japan were unchanged in May after each 
index declined 0.1 percent the previous month.  The price index for imports from the European Union 
fell 7.0 percent over the past year, while import prices from Japan rose 1.4 percent for the same period.


Import and Export Services

   Import air passenger fares continued to trend downward in May, falling 2.1 percent for the month 
and 10.1 percent over the past year.  Both the May and 12-month declines were led by declining 
European and Latin American/Caribbean fares, which fell 6.0 percent and 6.4 percent, respectively, for 
the month.  European fares fell 14.9 percent for the year ended in May while Latin American/Caribbean 
fares decreased 20.2 percent over the same period.  Export air passenger fares also fell in May, declining 
2.4 percent for the month and 14.6 percent for the May 2008-2009 period.
	
   Import air freight prices rose 0.9 percent in May, led by a 1.2 percent increase in European air 
freight prices.  Despite the May rise, the index declined 16.1 percent over the past 12 months.  Export air 
freight prices fell 3.0 percent in May and decreased 13.5 percent from May 2008 to May 2009.

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 June 2009 are scheduled for release on July 10, 2009 at 
8:30 A.M. (EDT).