U.S. Import and Export Price Indexes

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                              U.S. IMPORT AND EXPORT PRICE INDEXES - OCTOBER 2017                               

U.S. import prices advanced 0.2 percent in October, the U.S. Bureau of Labor Statistics reported today, after 
increasing 0.8 percent in September. U.S. export prices recorded no change in October, after increasing 0.7 
percent in September.

Imports

All Imports: Import prices increased 0.2 percent in October, after rising 0.8 percent in September. The 
price index for all imports rose 1.6 percent over the past 3 months. Higher prices for fuel and nonfuel 
imports contributed to the overall rise in import prices for October. U.S. import prices increased 2.5 percent 
for the year ended in October.  

Fuel Imports: The price index for fuel imports advanced 1.4 percent in October following a 5.5-percent rise 
in September. Fuel import prices increased 11.1 percent over the past 3 months. The October increase was 
driven by higher petroleum prices which advanced 1.7 percent, more than offsetting a 6.7-percent drop in 
natural gas prices. Fuel import prices rose 13.2 percent over the past 12 months; petroleum prices were the 
primary contributor, advancing 14.9 percent. Import prices for natural gas fell 18.2 percent over the past 
year.   

All Imports Excluding Fuel: Prices for nonfuel imports rose 0.2 percent in October following a 0.3-percent 
advance in September. The increase in October was driven by nonfuel industrial supplies and materials 
prices which advanced 0.9 percent; higher prices for capital goods also contributed to the overall increase. 
Import prices for automotive vehicles; consumer goods; and foods, feeds, and beverages all declined in 
October limiting the monthly advance. The price index for nonfuel imports rose 1.4 percent over the past 12 
months, the largest over-the-year increase since a 2.0-percent advance for the year ended March 2012.

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

Month IMPORTS EXPORTS
All
imports
Fuel
imports
Nonfuel
imports
All
exports
Agri-
cultural
exports
Non-
agricultural
exports

2016

October

0.5 6.6 0.0 0.2 0.5 0.2

November

-0.1 -1.1 -0.1 0.1 0.7 0.0

December

0.4 5.8 0.0 0.4 -0.2 0.4

2017

January

0.6 6.1 -0.1 0.2 0.4 0.2

February

0.3 0.3 0.3 0.3 1.4 0.3

March

-0.2 -3.0 0.2 0.1 1.1 0.0

April

0.2 -0.4 0.3 0.2 0.1 0.3

May

-0.1 -0.9 0.1 -0.6 -1.6 -0.4

June

-0.2 -3.6 0.1 -0.1 -1.4 0.0

July

(r)-0.2 (r)-1.0 -0.1 0.5 (r)1.8 0.3

August

0.6 (r)3.9 0.3 0.7 0.1 0.8

September

(r)0.8 (r)5.5 0.3 (r)0.7 -0.7 (r)0.9

October

0.2 1.4 0.2 0.0 1.9 -0.3

Oct. 2015 to 2016

-0.2 3.1 -0.3 -1.1 -2.7 -0.8

Oct. 2016 to 2017

2.5 13.2 1.4 2.7 3.5 2.5

Footnotes
(r) Revised

Exports

All Exports: U.S. export prices recorded no change in October following 0.7-percent increases in 
September and August. The index has not recorded a decline since a 0.1-percent drop in June. Higher prices 
for agricultural exports were offset by lower prices for nonagricultural exports. The price index for exports 
advanced 2.7 percent over the past year.

Agricultural Exports: The price index for agricultural exports increased 1.9 percent in October, the largest 
monthly rise since a 2.5-percent advance in June 2016. Higher vegetable prices drove the October increase, 
more than offsetting lower prices for soybeans and meats. Agricultural export prices increased 3.5 percent 
over the past year. Increasing vegetable and meat prices were the primary contributors to the 12-month 
advance.

All Exports Excluding Agriculture: Nonagricultural export prices declined 0.3 percent in October 
following a 0.9-percent rise in September. In October, the index recorded the first monthly decline since a 
0.4-percent decrease in May. Lower prices for nonagricultural industrial supplies and materials drove the 
decrease, and automotive prices also contributed to the overall decline. In contrast, capital goods and 
consumer goods prices increased in October. Despite the monthly decline in October, the price index for 
nonagricultural exports increased 2.5 percent over the past year. Higher nonagricultural industrial supplies 
and materials prices were the primary contributor to higher prices over the 12-month period.

                                          SELECTED OCTOBER HIGHLIGHTS                                           

Import Prices

Imports by Locality of Origin: Import prices from China recorded no change in October following a 0.3- 
percent decline in September. Over the past year prices from China fell 0.8 percent. The price index for 
imports from Japan fell 0.3 percent in October, after a 0.1-percent rise in September. Import prices from 
Japan decreased 0.8 percent over the past year, the largest 12-month decline since a 1.1-percent drop for the 
year ended in May 2016. Import prices from Canada rose 1.4 percent for the second consecutive month in 
October; those were the largest advances since a 2.0-percent rise in January. Import prices from the 
European Union rose 0.1 percent in October and prices for imports from Mexico fell 0.2 percent. 

Nonfuel Industrial Supplies and Materials: Import prices for nonfuel industrial supplies and materials 
rose 0.9 percent in October following a 1.5-percent advance in September. The index increased 7.9 percent 
over the past 12 months, the largest over-the-year rise since an 8.1-percent advance in November 2011. 
Higher import prices for chemicals and selected building materials drove the October advance. 

Finished Goods: Import prices for the major finished goods categories were mixed in October. The price 
index for capital goods rose 0.2 percent in October and recorded a 0.6-percent increase over the past year. 
Prices for automotive vehicles decreased 0.2 percent in October and consumer goods prices fell 0.1 percent. 

Foods, Feeds, and Beverages: The import price index for foods, feeds, and beverages fell 0.2 percent in 
October. A 4.3-percent drop in prices for feedstuff and food grains and a 2.3-percent drop in vegetable 
prices were the main contributors to the decline. 

Transportation Services: The index for import air passenger fares rose 8.8 percent in October following an 
8.5-percent increase in September. The October advance was the largest monthly increase since the index 
rose 8.9 percent in June 2015. European air passenger fares rose 9.9 percent driving the overall advance. 
Despite the recent increases, import air passenger fares decreased 1.4 percent over the past year. The price 
index for import air freight fell 4.0 percent in October and recorded a 5.4-percent increase over the past 12 
months.

Export Prices

Nonagricultural Industrial Supplies and Materials: Nonagricultural industrial supplies and materials 
export prices fell 1.1 percent in October, after increasing 2.8 percent in September. The October drop was 
the first decline since a 1.4-percent decrease in May. Lower prices for fuel and gold led the October decline.

Finished Goods: Export prices for capital goods rose 0.3 percent in October following a 0.1-percent 
advance the previous month. The October increase was driven by a 1.3-percent advance in the price index 
for computers, peripherals, and semiconductors. Export prices for automotive vehicles fell 0.2 percent in 
October and consumer goods prices ticked up 0.1 percent. 

Transportation Services: Export air passenger fares increased 3.9 percent in October, driven by a 3.1-
percent increase in European fares. The price index for export air passenger fares rose 2.3 percent over the 
past year. Export air freight prices advanced 3.0 percent in October and 5.4 percent over the past 12 months.
		
Import and Export Price Index data for November 2017 are scheduled for release on Thursday, December 14, 
2017 at 8:30 a.m. (EST).

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Last Modified Date: November 16, 2017