U.S. import and export prices decline in 2014

January 16, 2015

The price index for U.S. imports decreased 5.5 percent in 2014, the largest calendar-year drop since falling 10.1 percent in 2008. Export prices decreased 3.2 percent, the largest calendar-year drop since the index declined 3.4 percent in 1998.

 

 

12-month percent change in the U.S. Import and Export Price Indexes, December 2013–December 2014
Month Imports Exports

Dec 2013

-1.1 -1.0

Jan 2014

-1.3 -1.0

Feb 2014

-1.1 -1.0

Mar 2014

-0.5 0.4

Apr 2014

-0.4 -0.1

May 2014

0.5 0.6

Jun 2014

1.2 0.2

Jul 2014

0.9 0.4

Aug 2014

-0.3 0.4

Sep 2014

-1.4 -0.4

Oct 2014

-2.1 -0.7

Nov 2014

-3.0 -1.7

Dec 2014

-5.5 -3.2

Import prices for fuel fell 28.6 percent in 2014, the largest calendar-year decrease since a 47.0-percent decline in 2008. Import petroleum prices decreased 30.1 percent, while prices for natural gas declined 1.6 percent.

Prices for nonfuel imports did not change in 2014. Lower prices for capital goods, automotive vehicles, and nonfuel industrial supplies and materials offset higher prices for foods, feeds, and beverages and for consumer goods.

Agricultural export prices fell 4.9 percent in 2014, driven by lower prices for soybeans and corn.

The price index for nonagricultural exports decreased 2.9 percent in 2014. That was the largest calendar-year decline since BLS first published the index in March 1985. Export fuel prices fell 24.2 percent in 2014.

These data are from the International Price program. Import and export prices are subject to revision. To learn more, see “U.S. Import and Export Price Indexes — December 2014” (HTML) (PDF).   

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, U.S. import and export prices decline in 2014 on the Internet at https://www.bls.gov/opub/ted/2015/us-import-and-export-prices-decline-in-2014.htm (visited September 18, 2019).

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