Economic News Release

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                         U.S. IMPORT AND EXPORT PRICE INDEXES - APRIL 2012

U.S. import prices declined 0.5 percent in April, the U.S. Bureau of Labor Statistics reported today, 
following a 1.5 percent increase in March. The April decrease was driven by lower fuel prices which more 
than offset a small increase in nonfuel prices. The price index for overall exports rose 0.4 percent in April 
after a 0.8 percent increase the previous month. 

 
Imports
 	
All Imports: Prices for U.S. imports fell 0.5 percent in April, the first monthly decrease since a 0.4 percent 
decline in October 2011 and the largest one-month drop since the index decreased 0.6 percent in June 2011. 
Despite the April decline, import prices rose 0.5 percent over the past year, although that was the smallest 
12-month advance since the index last recorded a year-over-year decrease in October 2009.  

Fuel Imports: A 2.1 percent drop in fuel prices led the overall decline in import prices in April. The decrease 
in fuel prices followed a 4.4 percent increase in March and was the largest decline for the index since a 
similar 2.1 percent decrease in August 2011. A 1.8 percent decline in petroleum prices and a 14.1 percent 
drop in natural gas prices each contributed to the April decrease in overall fuel prices. Fuel prices also fell 
over the past 12 months as a 45.3 percent decline in natural gas prices more than offset higher petroleum 
prices that ticked up 0.1 percent from April 2011 to April 2012. The decrease in overall fuel prices was the 
first 12-month decline since the index fell 14.2 percent for the year ended in October 2009.     

All Imports Excluding Fuel: The price index for nonfuel prices ticked up 0.1 percent in April after rising 
0.5 percent the previous month. Higher prices for nonfuel industrial supplies and materials, automotive 
vehicles, consumer goods, and foods, feeds, and beverages all contributed to the increase in overall nonfuel 
prices. Capital goods prices were unchanged. Nonfuel prices rose 1.3 percent over the past 12 months.  

Table A. Percent changes

Exports
 
All Exports: U.S. export prices increased 0.4 percent in April as agricultural and nonagricultural prices each 
contributed to the advance. The April rise in overall export prices followed a 1.5 percent increase in the first 
quarter of 2012. Export prices advanced 0.7 percent for the April 2011-12 period, the smallest year-over-
year increase since the index rose 0.4 percent between November 2008 and November 2009. The 12-month 
increase in April was led by higher nonagricultural prices which more than offset declining agricultural prices 
over the past year.   

Agricultural Exports: Agricultural prices rose 2.0 percent in April after rising 2.5 percent in March. The 
April advance was led by a 7.4 percent increase in soybean prices. Despite the increases in the past two 
months, agricultural prices fell 3.1 percent over the past 12 months. That decline was driven by falling 
cotton, corn, and wheat prices between April 2011 and April 2012.       

All Exports Excluding Agriculture: The price index for nonagricultural prices advanced 0.2 percent in 
April following a 0.5 percent rise the previous month. Rising prices for nonagricultural industrial supplies 
and materials, as well as automotive vehicles, more than offset lower consumer goods prices. Overall 
nonagricultural prices increased 1.2 percent for the year ended in April.  
		
		
                                        SELECTED APRIL HIGHLIGHTS

Import Prices

Nonfuel Industrial Supplies and Materials: Nonfuel industrial supplies and materials prices advanced 0.3 
percent in April after increasing 1.6 percent in March. In April, a 13.6 percent increase in agricultural 
products prices and a 1.5 percent advance in chemicals prices more than offset a 2.3 percent decline in 
unfinished metals prices. The price index for nonfuel industrial supplies and materials rose 1.5 percent over 
the past year. 

Finished Goods: Prices for imported finished goods were up overall in April, led by a 0.4 percent increase in 
automotive vehicles prices and a 0.1 percent advance in the price index for consumer goods. Capital goods 
prices were unchanged in April as a 0.3 percent increase in capital goods prices excluding computers was 
offset by a 0.5 percent drop in computers, peripherals, and semiconductors prices. 
 
Foods, Feeds, and Beverages: Foods, feeds, and beverages prices ticked up 0.1 percent in April following a 
1.8 percent increase the previous month. In April, rising prices for vegetables, coffee, and food oils, up 4.7 
percent, 1.4 percent, and 1.3 percent, respectively, more than offset a 2.7 percent drop in meat prices and a 
4.1 percent decline in the price index for dairy products. 

Imports by Locality of Origin: The price index for imports from China fell 0.3 percent in April, the first 
monthly decrease since the index fell 0.2 percent in June 2010. Despite the monthly decline, import prices 
from China have risen 2.0 percent over the past year. Import prices from Canada, the European Union, 
Mexico, and Japan decreased 1.0 percent, 0.1 percent, 0.5 percent, and 0.4 percent, respectively, in April. 

Transportation Services: Import air passenger fares rose 0.7 percent in April after falling 1.0 percent in 
March. Higher European, Latin American/Caribbean, and Asian fares all contributed to the April increase. 
The index for import air passenger fares advanced 10.3 percent for the year ended in April. Import air 
freight prices rose 2.3 percent in April and 1.5 percent over the past year. 


Export Prices
 
Nonagricultural Industrial Supplies and Materials: Nonagricultural industrial supplies and materials 
prices increased 0.4 percent in April following a 1.2 percent advance in March. The April rise was driven by 
a 1.5 percent increase in fuel prices and a 0.6 percent rise in chemicals prices.
  
Finished Goods: Finished goods prices were mixed in April. Automotive vehicles prices rose 0.5 percent, 
led by a 0.5 percent advance in the price index for parts, engines, bodies and chassis. In contrast, consumer 
goods prices decreased 0.2 percent in April, while prices for capital goods were unchanged. 

Transportation Services: The index for export air passenger fares advanced 1.2 percent in April, driven by 
a 9.5 percent rise in European fares. Export air passenger fares rose 6.7 percent over the past year. Prices for 
export air freight increased 0.8 percent in April and 5.1 percent over the past 12 months. 
		
Import and Export Price Index data for May 2012 are scheduled for release on Tuesday, June 12, 
2012 at 8:30 a.m. (EDT).