Import prices drop in December 2004

January 14, 2005

Import prices fell 1.3 percent in December, the largest monthly decline for the index since April 2003.

Over-the-month percent change in price index for imports, December 2003 – December 2004 (not seasonally adjusted)
[Chart data—TXT]

Despite the December decrease, import prices were up 6.9 percent over the past year compared with a more modest 2.4-percent increase for the year ended in December 2003.

The December drop in overall import prices was led by lower petroleum prices, which fell 11.5 percent in December. In contrast to petroleum prices, the index for nonpetroleum import prices was up 0.5 percent in December.

Higher prices for each of the major goods categories contributed to the December increase in nonpetroleum prices. The price index for nonpetroleum industrial supplies and materials had the largest impact, up 1.3 percent in December and led primarily by higher prices for building materials and metals.

Export prices rose 0.2 percent in December as both agricultural and nonagricultural prices increased. The price index for overall exports grew over much of the past 12 months and was up 4.1 percent for that period following a 2.2 percent increase from December 2002-2003.

These data are from the BLS International Price program. Import and export price data are subject to revision. Learn more in "U.S. Import and Export Price Indexes - December 2004" (PDF) (TXT), news release USDL 05-56.


Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import prices drop in December 2004 on the Internet at (visited September 26, 2016).


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.