Import prices rise in July

August 13, 2004

The U.S. Import Price Index rose 0.2 percent in July 2004. The increase resumed the upward trend in the index, following a modest 0.1-percent decrease in June.

Over-the-month percent change in price index for imports, July 2003–July 2004 (not seasonally adjusted)
[Chart data—TXT]

Import petroleum prices advanced 0.9 percent in July, contributing to the overall increase in import prices and reversing the 0.9-percent downturn for the index in June. Prices for petroleum imports were up 29.5 percent over the past 12 months.

Nonpetroleum prices also rose in July, edging up 0.1 percent. Prices for nonpetroleum imports have not declined since October and were up 2.6 percent for the year ended in July. Overall, import prices rose 5.5 percent over the same period.

Export prices rose 0.4 percent in July, as higher prices for nonagricultural exports more than offset a decline in the price index for agricultural exports.

These data are from the BLS International Price program. Import and export price data are subject to revision. Learn more in "U.S. Import and Export Price Indexes - July 2004" (PDF) (TXT), news release USDL 04-1520.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import prices rise in July on the Internet at http://www.bls.gov/opub/ted/2004/aug/wk2/art05.htm (visited December 19, 2014).

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