The U.S. Import Price Index declined 2.0 percent for the second consecutive month in October.
The 2.0-percent decreases in September and October followed increases in each of the prior five months and led import prices down 0.2 percent for the year ended in October.
Once again, lower petroleum prices were the largest contributing factor to the drop.
The price index for nonpetroleum imports decreased 0.6 percent in October, the first monthly decline since March. The October decrease in nonpetroleum prices was led by a decline in the price index for nonpetroleum industrial supplies and materials. A sharp drop in natural gas prices was the primary contributor to the decline, although a downturn in metals prices as well as lower building materials prices also factored into the decrease.
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 - October 2006" (PDF) (TXT), news release USDL 06-1958.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import prices in October 2006 at https://www.bls.gov/opub/ted/2006/nov/wk2/art01.htm (visited February 02, 2023).