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                          U.S. IMPORT AND EXPORT PRICE INDEXES - APRIL 2016

The price index for U.S. imports rose 0.3 percent in April following a 0.3-percent increase in March, the 
U.S. Bureau of Labor Statistics reported today. The increases in both April and March were led by higher 
fuel prices. U.S. export prices increased 0.5 percent in April, after recording no change the previous month. 
Both agricultural and nonagricultural export prices contributed to the April advance.  


Imports

All Imports: The consecutive 0.3-percent increases in April and March were the first monthly advances 
since the index ticked up 0.1 percent in June 2015 and the largest increases since a 1.1-percent rise in May 
2015. Higher fuel prices drove the April advance although nonfuel prices also contributed to the overall 
increase in import prices. Import prices declined 5.7 percent over the past year, the smallest over-the-year 
drop since the index fell 5.6 percent in December 2014.                 

Fuel Imports: Prices for fuel imports advanced 3.3 percent in April following a 7.6-percent rise in March. 
The increases were the first monthly advances since the index rose 1.5 percent in June 2015 and the largest 
1-month increases since a 10.8-percent advance in May 2015. The April rise was driven by a 4.1-percent 
advance in petroleum prices which more than offset a 10.5-percent drop in natural gas prices. Despite the 
recent increases, the price index for import fuel declined 36.4 percent over the past 12 months. A 37.4-
percent decrease in petroleum prices and a 38.9-percent drop in natural gas prices both contributed to the 
overall fall in import fuel prices for the year ended in April.            

All Imports Excluding Fuel: Nonfuel import prices rose 0.1 percent, the first monthly advance since the 
index ticked up 0.1 percent in July 2014. The last time nonfuel import prices advanced by more than 0.1 
percent was a 0.3-percent increase in March 2014. In April, higher prices for nonfuel industrial supplies and 
materials; foods, feeds, and beverages; and automotive vehicles more than offset falling consumer goods 
and capital goods prices. Despite the April increase, nonfuel import prices fell 2.0 percent between April 
2015 and April 2016.           

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

Exports

All Exports: Prices for U.S. exports rose 0.5 percent in April, the first monthly advance for the index since 
a 0.5-percent increase in May 2015. Those advances are the largest 1-month rises since the index increased 
0.9 percent in March 2014. The price index for U.S. exports fell 5.0 percent for the year ended in April, the 
smallest 12-month decline since the index decreased 5.0 percent from January 2014 to January 2015. 

Agricultural Exports: Agricultural export prices increased 0.5 percent in April, after decreasing 2.3 
percent the previous month. The April advance was led by a 4.4-percent rise in soybean prices which more 
than offset lower prices for fruit and meat. Despite the April upturn, agricultural prices decreased 9.7 
percent over the past 12 months.   

All Exports Excluding Agriculture: The price index for nonagricultural prices also advanced 0.5 percent 
in April following a 0.3-percent rise in March. Both monthly increases were driven by higher prices for 
nonagricultural industrial supplies and materials and capital goods. Nonagricultural prices decreased 4.6 
percent for the year ended in April. Falling prices for nonagricultural industrial supplies and materials as 
well as each of the major finished goods categories all contributed to the overall decline. 


                                       SELECTED APRIL HIGHLIGHTS

Import Prices

Imports by Locality of Origin: Import prices from China edged down 0.1 percent in April, after 
consecutive 0.2-percent decreases in March and February. Prices for imports from China have not recorded 
a monthly increase since the index ticked up 0.1 percent in December 2014. The index fell 1.9 percent over 
the past year, the largest 12-month decrease since the index fell 2.4 percent for the year ended in November 
2009. In contrast, led by higher prices for fuel and metals, the price indexes for imports from Canada, the 
European Union, and Mexico all rose in April. Prices for imports from Canada increased 1.4 percent, from 
the European Union 0.3 percent, and from Mexico 0.2 percent. Prices for imports from Japan recorded no 
change for the second consecutive month in April.                       

Nonfuel Industrial Supplies and Materials: Prices for nonfuel industrial supplies and materials rose 0.6 
percent in April, after a 0.6-percent increase in March. In April, higher prices for metals and building 
materials led the increase in overall nonfuel industrial supplies and materials prices.        

Finished Goods: Finished goods prices were mostly down in April. Consumer goods prices fell 0.3 percent, 
driven by lower prices for household goods. Prices for automotive vehicles ticked up 0.1 percent, led by 
rising auto parts prices. In contrast, capital goods prices edged down 0.1 percent in April. Falling prices for 
computers, peripherals, and semiconductors were the largest contributor.                     

Foods, Feeds, and Beverages: The price index for import foods, feeds, and beverages increased 1.3 percent 
in April following a 0.4-percent decline in March. The April advance was led by a 3.4-percent rise in fish 
prices and a 4.4-percent increase in meat prices.              

Transportation Services: Import air passenger fares advanced 3.5 percent in April following a 5.4-percent 
decrease the previous month. In April, the rise was led by a 5.1-percent increase in European fares and a 
3.8-percent advance in Asian fares. Despite the April rise, import air passenger fares declined 0.2 percent 
over the past 12 months. Import air freight prices rose 2.0 percent in April, the largest monthly advance 
since the index increased 5.0 percent in October 2015. The price index for import air freight fell 10.6 
percent for the year ended in April.      


Export Prices

Nonagricultural Industrial Supplies and Materials: Prices for nonagricultural industrial supplies and 
materials increased 1.4 percent in April following a 0.7-percent rise in March. Higher prices for fuel, metals, 
and chemicals all factored into the April advance.         

Finished Goods: Finished goods prices were mixed in April. Capital goods prices advanced 0.4 percent, the 
largest monthly increase since the index rose 0.7 percent in January 2013. In contrast, consumer goods 
prices edged down 0.1 percent. The price index for automotive vehicles recorded no change in April. 

Transportation Services: Export air passenger fares decreased 6.0 percent in April, after rising 7.7 percent 
in March. The April drop was driven by an 11.4-percent decline in European fares. The index for export air 
passenger fares fell 7.1 percent over the past year. Export air freight prices recorded no change in April and 
declined 3.1 percent over the past 12 months.            

Import and Export Price Index data for May 2016 are scheduled for release on Tuesday, June 14, 2016 at 
8:30 a.m. (EDT).    

					     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 2-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 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 Producer Price Index (PPI) 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 indexes and excluded from 
the export air passenger fares indexes. 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 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 3 months after original publication. After 3 months, no further data 
revisions take place. For example, data first published 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 (NIPA) 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 NIPA, 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.

Email Subscription - The U.S. import and export price indexes news release is available through an 
email subscription service at www.bls.gov/bls/list.htm. 
 
Additional Information - More detailed data are available on the Import/Export Price Indexes home 
page at www.bls.gov/mxp. For import and export price indexes data requests, send an email 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.