Petroleum import prices fell 55 percent in past 12 months
February 19, 2009
Petroleum import prices fell 69.1 percent over the past six months and 55.0 percent over the past year, the largest 12-month decline since the index was first published in June 1982.
For the sixth consecutive month, petroleum import prices and nonpetroleum import prices decreased, falling 2.4 percent and 0.8 percent, respectively, in January 2009. Prices for overall imports fell 1.1 percent in January.
However, prices for both overall imports and petroleum decreased at a smaller rate in January than in each of the previous five months since prices last rose in July.
Nonpetroleum prices decreased 5.7 percent over the past six months and 0.6 percent over the past year.
Overall, import prices fell 12.5 percent for the year ended in January, the largest 12-month decline since the index was first published in September 1982.
These data are from the BLS International Price program. Import price data are subject to revision. Learn more in "U.S. Import and Export Price Indexes – January 2009" (PDF) (HTML), news release USDL 09-0169.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Petroleum import prices fell 55 percent in past 12 months on the Internet at http://www.bls.gov/opub/ted/2009/feb/wk3/art03.htm (visited November 28, 2014).
Three recent editions of Spotlight on Statistics
Housing: before, during, and after the Great Recession
looks at consumer expenditures on household items, employment in residential construction, prices for household items, and injuries in occupations involved in building and maintaining our homes.
Women veterans in the labor force examines the demographic, employment, and unemployment characteristics of women veterans.
BLS Statistics by Occupation provides an overview of occupational employment and wages with an emphasis on STEM jobs and occupational data by typical entry-level education required.