Transmission of material in this release is embargoed until					USDL-15-0889
8:30 a.m. (EDT) Wednesday, May 13, 2015

Technical information:    (202) 691-7101 * MXPinfo@bls.gov * www.bls.gov/mxp
Media contact:	   	  (202) 691-5902 * PressOffice@bls.gov


                           U.S. IMPORT AND EXPORT PRICE INDEXES - APRIL 2015

U.S. import prices declined 0.3 percent in April, after decreasing 0.2 percent in March and 0.4 percent in 
February, the U.S. Bureau of Labor Statistics reported today. Falling nonfuel prices in April more than 
offset higher fuel prices. Prices for U.S. exports fell 0.7 percent in April following a 0.1-percent rise the 
previous month.

Imports 

All Imports: Prices for U.S. imports declined 0.3 percent in March, and have not recorded a monthly 
advance since the index rose 0.3 percent in June 2014. Overall, import prices fell 11.2 percent between June 
2014 and April 2015, and the index decreased 10.7 percent over the past year. Most of the decline since 
June 2014 resulted from lower fuel prices, as nonfuel prices declined 2.2 percent over the period.          

Fuel Imports: The price index for import fuel increased 0.7 percent in April, after rising 1.2 percent the 
previous month. The March advance was the first monthly increase in fuel prices since the index rose 1.6 
percent in June 2014. In April, a 1.0-percent advance in petroleum prices more than offset a 7.0-percent 
drop in natural gas prices. Despite the recent increases, fuel prices declined 46.1 percent for the year ended 
in April. Both a 47.0-percent decrease in petroleum prices and a 45.2-percent drop in natural gas prices 
contributed to the overall year-over-year decline in fuel prices.         

All Imports Excluding Fuel: Nonfuel import prices declined 0.4 percent for the second consecutive month 
in April. Prices for nonfuel imports last recorded a monthly advance when the index edged up 0.1 percent in 
July 2014. In April, lower prices for nonfuel industrial supplies and materials; capital goods; foods, feeds, 
and beverages; and consumer goods all contributed to the decline in nonfuel prices. The price index for 
automotive vehicles recorded no change. The price index for nonfuel imports declined 2.3 percent over the 
past 12 months. Each of the major finished goods categories decreased over that period.           

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

Exports

All Exports: U.S. export prices fell 0.7 percent in April, the largest 1-month drop since a 1.7-percent 
decline in January. The April drop followed a 0.1-percent rise in March which was the first monthly 
advance since a 0.1-percent increase in July 2014. Lower prices in April for both agricultural exports and 
nonagricultural exports contributed to the overall drop in export prices. The price index for exports declined 
6.3 percent over the past year.              

Agricultural Exports: Agricultural export prices decreased 0.8 percent in April, after falling 1.7 percent in 
March. The April drop was driven by a 2.4-percent decline in meat prices, a 1.7-percent decrease in soybean 
prices, and a 2.7-percent fall in fruit prices. The price index for agricultural exports has not recorded a 
monthly advance since the index ticked up 0.1 percent in November 2014. The index decreased 15.6 percent 
for the year ended in April, the largest 12-month decline since the index fell 16.7 percent between 
September 2008 and September 2009.                                   

All Exports Excluding Agriculture: The price index for nonagricultural exports declined 0.7 percent in 
April following advances of 0.2-percent and 0.1-percent the previous 2 months. The April decline was led 
by declining prices for nonagricultural industrial supplies and materials, capital goods, and consumer goods. 
In contrast, prices for automotive vehicles ticked up 0.1 percent in April. Nonagricultural export prices 
decreased 5.3 percent over the past 12 months.    


                                       SELECTED APRIL HIGHLIGHTS

Import Prices

Imports by Locality of Origin: Import prices from China edged down 0.1 percent for the third consecutive 
month in April. Prices for imports from China also declined over the past year, falling 0.6 percent, the 
largest year-over-year drop since the index fell 0.7 percent for the year ended January 2014. The price index 
for imports from Japan decreased 0.5 percent in April, and has not recorded a monthly advance since the 
index rose 0.2 percent in March 2014. Import prices from the European Union and Canada also declined in 
April, falling 0.5 percent and 0.1 percent, respectively. In contrast, prices for imports from Mexico 
advanced 0.2 percent in April.              

Nonfuel Industrial Supplies and Materials: The price index for nonfuel industrial supplies and materials 
decreased 0.9 percent in April following a 1.3-percent decline the previous month. The April drop was 
driven by a 6.4-percent decrease in iron and steel mill products and a 0.7-percent decline in chemical prices. 

Finished Goods: Prices for the major finished goods categories were mostly down in April. The price index 
for capital goods fell 0.3 percent, led by lower prices for computers, peripherals, and semiconductors as well 
as industrial and service machinery. Consumer goods prices also fell in April, edging down 0.1 percent. 
Prices for automotive vehicles recorded no change in April.        

Foods, Feeds, and Beverages: Foods, feeds, and beverages prices fell 0.9 percent in April, after declining 
0.7 percent in March. Lower prices for fish and shellfish, food oils, and vegetables contributed to the April 
decrease.        

Transportation Services: Import air passenger fares fell 2.9 percent in April following a 2.4-percent 
decrease in March and a 2.5-percent decline in February. Lower European fares drove the drops in April and 
March, and falling Asian fares led the decrease in February. The index for import air passenger fares 
declined 2.7 percent for the year ended in April. Import air freight prices rose 0.5 percent in April and 
decreased 1.1 percent over the past year.            


Export Prices

Nonagricultural Industrial Supplies and Materials: The price index for nonagricultural industrial 
supplies and materials declined 1.6 percent in April, after rising 0.5 percent the previous month. The April 
decrease was driven by falling fuel prices, which decreased 5.6 percent in April following a 4.0-percent 
increase in March.  

Finished Goods: Prices for both capital goods and consumer goods declined 0.3 percent in April, after 
recording little change the previous month. In March, prices for capital goods were unchanged and 
consumer goods prices edged down 0.1 percent. The price index for automotive vehicles ticked up 0.1 
percent for the second consecutive month in April.         

Transportation Services: Export air passenger fares fell 3.6 percent in April, after rising 0.9 percent the 
previous month. Lower Latin American/Caribbean fares, Asian fares, and European fares all contributed to 
the April decline. The index for export air passenger fares declined 13.3 percent over the past year. Prices 
for export air freight rose 0.9 percent in April and increased 4.6 percent over the past 12 months.        

Import and Export Price Index data for May 2015 are scheduled for release on Thursday, June 11, 2015 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 two-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 http://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 PPI (Producer Price Index) 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 Index and 
excluded from the Export Air Passenger Fares Index. 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 http://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 three months after original publication.  After three months, no further 
data revisions take place.  So, for example, data released 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 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 National Income and Product Accounts, 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.

E-Mail Subscription -- The U.S. Import and Export Price Indexes news release is available through an 
e-mail subscription service at (http://www.bls.gov/bls/list.htm).

Additional Information -- More detailed data are available on the Import/Export Price Indexes home 
page at (http://www.bls.gov/mxp). For technical assistance in using the BLS Internet site, send e-mail to 
(labstat.helpdesk@bls.gov).  For Import/Export Price Index data requests, send e-mail 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.