Import and export prices increase in November 2010

December 15, 2010

U.S. import prices increased 1.3 percent in November, following a 1.0-percent advance the previous month. Rising prices for fuel and nonfuel imports contributed to both the November and October increases. Prices for U.S. exports also rose in November, increasing 1.5 percent after advancing 0.8 percent in October.

1-month percent change in Import Price Indexes, November 2009–November 2010
[Chart data]

Import prices advanced 1.3 percent in November following a 1.0-percent increase in October. The November rise was the largest monthly advance since a 1.5-percent increase in November 2009 and marked the first time since May and June 2009 that import prices rose by at least 1.0 percent in consecutive months.

In November, fuel prices rose 3.7 percent after advancing 3.8 percent the previous month. The November increase was driven by a 4.1-percent rise in petroleum prices, which more than offset a 3.8-percent drop in natural gas prices.

Prices for nonfuel imports rose 0.8 percent following 0.3-percent advances in each of the three previous months. The November increase was the largest one-month advance for the index since a 1.1-percent rise in April 2008. Higher prices for nonfuel industrial supplies and materials were the largest factor for the overall increase in nonfuel prices. Increasing finished goods and food prices also contributed to the November advance.

1-month percent change in Export Price Indexes, November 2009–November 2010
[Chart data]

Export prices increased 1.5 percent in November, the largest monthly advance for the index since a 1.5-percent rise in July 2008. Prices for both agricultural and nonagricultural exports continued to move higher.

In November, prices for agricultural exports rose 8.0 percent, the largest one-month jump in the index since publication began on a monthly basis in December 1988. Higher prices for corn, cotton, soybeans, and wheat all contributed towards the increase in agricultural prices.

The price index for nonagricultural exports advanced 0.8 percent, the largest monthly increase since a 1.3-percent rise in April. Prices for both nonagricultural industrial materials and finished goods contributed to the November increase.

These data are from the BLS International Price program. Import and export price data are subject to revision. For more information, see "U.S. Import and Export Price Indexes — November 2010" (HTML) (PDF), news release USDL-10-1689.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import and export prices increase in November 2010 on the Internet at http://www.bls.gov/opub/ted/2010/ted_20101215.htm (visited September 30, 2016).

OF INTEREST

Recent editions of Spotlight on Statistics

  • A look at healthcare spending, employment, pay, benefits, and prices
    As one of the largest U.S. industries, healthcare is steadily growing to meet the needs of an increasing population with an increasing life expectancy. This Spotlight looks at how much people spend on healthcare, current and projected employment in the industry, employer-provided healthcare benefits, healthcare prices, and pay for workers in healthcare occupations.

  • Employment and Wages in Healthcare Occupations
    Healthcare occupations are a significant percentage of U.S. employment. Some of the largest and highest paying occupations are in healthcare. This Spotlight examines employment and wages for healthcare occupations.

  • Fifty years of looking at changes in peoples lives
    Longitudinal surveys help us understand long-term changes, such as how events that happened when a person was in high school affect labor market success as an adult.