Transmission of material in this release is embargoed until					USDL-15-2331
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			    U.S. IMPORT AND EXPORT PRICE INDEXES - NOVEMBER 2015

Prices for U.S. imports fell 0.4 percent in November following a 0.3-percent decline in October, the U.S. 
Bureau of Labor Statistics reported today. A decrease in import fuel prices drove the November decline in 
the price index for overall imports. U.S. export prices declined 0.6 percent in November, after a 0.2-percent 
decrease the previous month. 

Imports

All Imports: Overall import prices decreased 0.4 percent in November, after falling 0.3 percent in October 
and 1.1 percent in September. Import prices have trended down throughout 2015, declining each month with 
the exception of May and June. Prices for imports fell 9.4 percent for the year ended in November, and have 
not increased on a 12-month basis since the index rose 0.9 percent in July 2014.            

Fuel Imports: Fuel prices resumed a downward trend in November, declining 2.5 percent following a 0.1-
percent uptick the previous month. The price index for import fuel decreased 24.9 percent between June and 
September. A 2.5-percent drop in petroleum prices and a 4.6-percent decline in natural gas prices both 
contributed to the November decline in overall import fuel prices. Prices for overall fuel fell 43.2 percent 
over the past 12 months, after decreasing 15.9 percent between November 2013 and November 2014. 
Petroleum prices declined 44.5 percent over the past year, while prices for natural gas fell 32.3 percent.  

All Imports Excluding Fuel: The price index for nonfuel imports also decreased in November, falling 0.2 
percent following 0.3-percent declines in each of the previous 4 months. Lower prices for nonfuel industrial 
supplies and materials; foods, feeds, and beverages; capital goods; and automotive vehicles all factored into 
the November decline in nonfuel import prices. Prices for nonfuel imports decreased 3.2 percent for the year 
ended in November. Prices for nonfuel industrial supplies and materials; foods, feeds, and beverages; and 
each of the major finished goods categories all fell over the past 12 months.      

Table A. Percent change in Import and Export Price Indexes, selected categories

Exports

All Exports: Prices for U.S exports declined 0.6 percent in November, following a 0.2-percent decline in 
October and a 0.6-percent decrease in September. Lower prices for both agricultural and nonagricultural 
exports contributed to the November decline in overall export prices. The price index for overall exports 
only recorded 1 monthly advance over the past year and declined 6.3 percent between November 2014 and 
November 2015.                    

Agricultural Exports: Agricultural prices decreased 1.1 percent in November, after rising 0.1 percent the 
previous month. In November, the decline was led by a 6.6-percent drop in nut prices and a 2.4-percent 
decrease in soybean prices which more than offset a 4.0-percent advance in fruit prices. Prices for 
agricultural exports fell 12.8 percent over the past year. A 24.5-percent decrease in meat prices was the 
primary factor for the 12-month drop in overall agricultural prices.   

All Exports Excluding Agriculture: The price index for nonagricultural exports decreased 0.6 percent in 
November, following a 0.3-percent drop in October. In November, falling prices for nonagricultural 
industrial supplies and materials, capital goods, and automotive vehicles more than offset higher consumer 
goods prices. Nonagricultural prices fell 5.7 percent over the past year.         


					SELECTED NOVEMBER HIGHLIGHTS

Import Prices

Imports by Locality of Origin: Prices for imports from China declined 0.3 percent in November, matching 
a 0.3-percent decrease in May. Those were the largest monthly drops since the index fell 0.6 percent in May 
2013. Import prices from China decreased 1.5 percent over the past 12 months, the largest year-over-year 
drop since the index declined 1.7 percent for the year ended in January 2010. The price indexes for imports 
from Canada, the European Union, and Mexico all fell in November declining 0.5 percent, 0.4 percent, and 
0.3 percent, respectively. All were led by lower fuel prices. Prices for imports from Japan recorded no 
change for the second consecutive month in November.                   

Nonfuel Industrial Supplies and Materials: Nonfuel industrial supplies and materials prices fell 0.9 
percent in November, after declining 1.0 percent in October. Both declines were driven by lower prices for 
unfinished metals and chemicals. Prices for nonfuel industrial supplies and materials fell 10.5 percent over 
the past year, the largest 12-month decrease since the index fell 11.3 percent between October 2008 and 
October 2009.    

Finished Goods: The price indexes for capital goods and automotive vehicles each edged down 0.1 percent 
in November, following declines of 0.2 percent and 0.3 percent, respectively, the previous month. Capital 
goods prices fell 2.3 percent on a 12-month basis for the second consecutive month, the largest year-over-
year declines since the index fell 2.4 percent in December 2002.             

Foods, Feeds, and Beverages: Prices for foods, feeds, and beverages declined 0.5 percent in November, 
after falling 1.1 percent in October. Both decreases were driven by lower vegetable prices.            

Transportation Services: Import air passenger fares increased 3.7 percent in November, following a 5.2-
percent rise the previous month. The November advance was led by a 5.1-percent increase in European fares 
which more than offset a 0.7-percent drop in Asian fares. Overall import air passenger fares fell 2.2 percent 
over the past 12 months despite the recent increases. Import air freight prices rose 0.8 percent in November 
and fell 1.5 percent over the past year.   

Export Prices

Nonagricultural Industrial Supplies and Materials: Nonagricultural industrial supplies and materials 
prices decreased 1.6 percent in November, following a 0.7-percent drop the previous month. Falling prices 
for fuel, metals, and chemicals drove the November decline.     

Finished Goods: Finished goods prices were mixed in November. Capital goods prices edged down 0.1 
percent for the fourth consecutive month in November and have not recorded a monthly advance since the 
index rose 0.2 percent in February. Prices for automotive vehicles fell 0.2 percent. The last time the index 
fell more than 0.2 percent was a 0.3-percent drop in August 2012. In contrast, consumer goods prices ticked 
up 0.1 percent in November.              

Transportation Services: Export air passenger fares declined 0.8 percent in November, following a 1.4-
percent decrease in October and an 11.5-percent drop in September. The November decline was driven by a 
1.0-percent decrease in Asian fares. Export air passenger fares fell 11.9 percent for the year ended in 
November. Export air freight prices rose 0.4 percent in November and decreased 1.1 percent over the past 
12 months.         

Import and Export Price Index data for December 2015 are scheduled for release on Thursday, January 14, 
2016 at 8:30 a.m. (EST).

                                            TECHNICAL NOTE


Import and Export Merchandise and Services Price Indexes -- All indexes use a modified Laspeyres 
formula and are not seasonally adjusted.  Price indexes are reweighted annually, with a two-year lag in 
the weights.  Published series use a base year of 2000=100 where possible.  More detailed index series 
and additional information may be obtained at http://www.bls.gov/mxp, or by calling (202) 691-7101.

Merchandise Goods Classification Systems -- The merchandise price indexes are published using three 
classification systems.  Items are classified by end use according to the Bureau of Economic Analysis 
Classification System, by industry according to the North American Industry Classification System 
(NAICS), and by product category according to the Harmonized System (HS).  While classification by 
end use and product category are self-explanatory, some notes are in order for classifying items by 
industry.  In the NAICS imports and exports tables, items are classified by output industry, not input 
industry.  As an example, NAICS import index 326 (plastics and rubber products manufacturing) 
include outputs such as manufactured plastic rather than inputs such as petroleum.  The NAICS 
classification structure also matches the classification system used by the PPI (Producer Price Index) to 
produce the NAICS primary products indexes.

Import Price Indexes -- Products have been classified by the Harmonized Tariff Schedule of the United 
States Annotated (TSUSA).  Import prices are based on U.S. dollar prices paid by the U.S. importer.  
The prices are generally either "free on board" (f.o.b.) foreign port or "cost, insurance, and freight" 
(c.i.f.) U.S. port transaction prices, depending on the practices of the individual industry.  The index for 
crude petroleum is calculated from data collected by the U.S. Department of Energy.  

Export Price Indexes -- Products have been classified by the Harmonized Schedule B classification 
system of the U.S. Bureau of the Census.  The prices used are generally either "free alongside ship" 
(f.a.s.) factory or "free on board" (f.o.b.) transaction prices, depending on the practices of the individual 
industry.  Prices used in the grain index, excluding rice, are obtained from the U.S. Department of 
Agriculture.

Services Price Indexes -- Starting in September 2008 the Import Air Passenger Fares Indexes represent 
changes in the average revenue per passenger received by foreign carriers from U.S. residents and are 
calculated from data obtained from an airline consulting service.  These data include tickets sold by 
travel agencies and travel websites.  Tickets sold directly by the airlines are excluded, as are frequent 
flyer tickets generally.  Starting in January 2008 the Export Air Passenger Fares Indexes represent 
changes in the average revenue per passenger received by U.S. carriers from foreign residents and are 
calculated from data collected directly from airlines. These data include frequent flyer tickets and those 
sold by consolidators. Taxes and fees are included in the Import Air Passenger Fares Index and 
excluded from the Export Air Passenger Fares Index. The Air Freight Indexes are calculated from data 
collected directly from airlines. These data exclude mail and passenger baggage. The scope of the service 
being priced is the movement of freight from airport to airport only, and does not include any ground 
transportation or port service. The Air Freight Indexes are presented using two definitions: Balance of 
Payments (which represent transactions between U.S. and foreign residents) and International (which 
represent transactions inbound to and outbound from the U.S.). Fact sheets specifying detailed 
information for each services industry are available at http://www.bls.gov/mxp under "MXP 
Publications."

Import Indexes by Locality of Origin -- Prices used in these indexes are a subset of the data collected 
for the Import Price Indexes.  Beginning with January 2002, the indexes are defined by locality of origin 
using a nomenclature based upon the North American Industry Classification System (NAICS).  
Nonmanufactured goods are defined as NAICS 11 and 21 and manufactured goods are defined as 
NAICS 31-33. 

Revision Policy -- To reflect the availability of late reports and corrections by respondents, monthly data 
may be revised in each of the three months after original publication.  After three months, no further 
data revisions take place.  So, for example, data released in the January release will be subject to revision 
in the releases for February, March, and April.

Uses of the Data -- The primary use of the indexes is to deflate trade statistics, notably the foreign trade 
sector of the National Income and Product Accounts constructed by the Department of Commerce.  
Other published indexes are useful for general market analysis.  For trade in international services, 
Balance of Payments indexes are used for deflating National Income and Product Accounts, while 
International indexes are more appropriate for market analysis.  Merchandise and services indexes also 
can be used to study U.S. competitiveness and to compute price elasticities, and the merchandise import 
indexes by country or region of origin are useful in terms of trade analysis.

E-Mail Subscription -- The U.S. Import and Export Price Indexes news release is available through an 
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Additional Information -- More detailed data are available on the Import/Export Price Indexes home 
page at (http://www.bls.gov/mxp). For technical assistance in using the BLS Internet site, send e-mail to 
(labstat.helpdesk@bls.gov).  For Import/Export Price Index data requests, send e-mail to 
(mxpinfo@bls.gov). 

Information from this release will be made available to sensory impaired individuals upon request.  Voice 
phone: 202-691-5200; Federal Relay Service: 1-800-877-8339.