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                             U.S. IMPORT AND EXPORT PRICE INDEXES - SEPTEMBER 2010

U.S. import prices fell 0.3 percent in September, the U.S. Bureau of Labor Statistics reported today, 
following a 0.6 percent increase the previous month. Declining fuel prices more than offset an increase in 
nonfuel prices. In contrast, the price index for U.S. exports rose 0.6 percent in September after a 0.8 percent 
rise in August.

Imports


All Imports: Import prices fell 0.3 percent in September after rising 0.6 percent in August, the only monthly 
advance since April. The index rose 3.5 percent over the past year, the smallest increase on a 12-month basis 
since a 3.4 percent advance for the November 2008-09 period.

Fuel Imports: A 3.1 percent drop in fuel prices drove the September decline in import prices. The downturn 
followed increases of 1.7 percent and 1.0 percent, respectively, the previous two months. Falling prices for 
both petroleum products and natural gas, down 3.1 percent and 4.4 percent, respectively, contributed to the 
overall decline in fuel prices. Despite the September decrease, fuel prices rose 7.1 percent over the past 12 
months.       

All Imports Excluding Fuel: In contrast, nonfuel prices rose 0.3 percent for the second consecutive month 
after recording similar declines of 0.3 percent in July and 0.4 percent in June. Higher prices for nonfuel 
industrial supplies and materials, finished goods, and foods, feeds, and beverages all contributed to the 
overall advance in September. The price index for nonfuel imports also rose over the past year, increasing 2.6 
percent, an advance that was primarily driven by an 11.7 percent increase in nonfuel industrial supplies and 
materials prices.   


Table A. Percent changes










	
Month
	
IMPORTS
	
EXPORTS


	
All
imports(1)
	
Fuel
imports
	
Nonfuel
imports(1)
	
All
exports
	
Agri-
cultural
exports
	
Non-
agricultural
exports






	



	
2009
				




	
September
	
0.2
	
-1.3
	
0.4
	
-0.2
	
-2.9
	
0.1



	
October
	
0.8
	
3.0
	
0.4
	
0.0
	
-0.7
	
0.1



	
November
	
1.5
	
6.3
	
0.3
	
0.8
	
3.9
	
0.5



	
December
	
0.2
	
-0.2
	
0.4
	
0.7
	
1.8
	
0.6



	



	
2010
				




	
January
	
1.2
	
4.4
	
0.4
	
0.8
	
1.3
	
0.7



	
February
	
-0.1
	
-0.7
	
0.1
	
-0.3
	
-4.0
	
0.1



	
March
	
0.4
	
1.4
	
0.2
	
0.7
	
1.9
	
0.6



	
April
	
1.1
	
2.6
	
0.6
	
1.1
	
-0.4
	
1.3



	
May
	
-0.8
	
-5.1
	
0.4
	
0.5
	
1.6
	
0.3



	
June
	
(r)-1.2
	
(r)-3.8
	
(r)-0.4
	
-0.7
	
0.0
	
-0.8



	
July
	
(r)0.0
	
1.0
	
(r)-0.3
	
(r)-0.1
	
-0.2
	
(r)-0.1



	
August
	
0.6
	
1.7
	
0.3
	
0.8
	
(r)4.1
	
0.5



	
September
	
-0.3
	
-3.1
	
0.3
	
0.6
	
2.4
	
0.3



	



	
Sept. 2008 to 2009
	
-12.0
	
-34.0
	
-4.2
	
-5.6
	
-16.7
	
-4.4



	
Sept. 2009 to 2010
	
3.5
	
7.1
	
2.6
	
5.0
	
12.1
	
4.3







	

		Footnotes

		(1) May 2010 data were corrected with the issuance of this release.

		(r) Revised

	






Exports

All Exports: Export prices rose for the second consecutive month in September, increasing 0.6 percent after 
a 0.8 percent advance in August. Rising prices for nonagricultural exports and agricultural exports each 
contributed to the overall September increase. The price index for overall exports advanced 5.0 percent for 
the year ended in September, the largest year-over-year increase since a 5.6 percent rise for the May 2009-10 
period.

Agricultural Exports: Prices for agricultural exports rose 2.4 percent in September after a 4.1 percent 
advance the previous month. The September increase was led by higher corn prices, up 10.4 percent, and a 
9.5 percent rise in wheat prices. The price indexes for corn and wheat were up 5.1 percent and 31.1 percent, 
respectively, in August. Rising corn and wheat prices also contributed to the 12.1 percent increase in 
agricultural export prices over the past 12 months.

All Exports Excluding Agriculture: Nonagricultural export prices advanced 0.3 percent in September 
following a 0.5 percent increase in August. The rise was driven by a 0.6 percent increase in nonagricultural 
industrial supplies and materials prices and a 1.0 percent jump in prices for consumer goods. The price index 
for nonagricultural exports rose 4.3 percent for the year ended in September, mostly led by a 12.7 percent 
increase in nonagricultural industrial supplies and materials prices over the same period.

 					

                                        SELECTED SEPTEMBER HIGHLIGHTS

Import Prices

Nonfuel Industrial Supplies and Materials: The price index for nonfuel industrial supplies and materials 
prices rose 1.3 percent in September after ticking up 0.1 percent in August. The September advance was led 
by a 2.8 percent increase in unfinished metals prices, a 1.8 percent rise in finished metal prices, and a 1.0 
percent gain in chemical prices. Nonfuel industrial supplies and materials rose 11.7 percent over the past 
year, driven by a 20.4 percent advance in unfinished metals prices.    

Finished Goods: Prices for imported finished goods were up overall in September, led by a 0.2 percent 
increase in automotive vehicles prices and a 0.1 percent advance in the price index for consumer goods. 
Capital goods prices were unchanged in September as a 0.2 percent increase in capital goods prices 
excluding computers was offset by a 0.3 percent drop in computers, peripherals, and semiconductors prices.
 
Foods, Feeds, and Beverages: Foods, feeds, and beverages prices increased 0.8 percent in September after 
a 2.1 percent rise the previous month. The advance for September was driven by an 8.4 percent jump in 
coffee prices, which rose 36.7 percent over the past year, and a 2.1 percent rise in fish and shellfish prices. A 
3.8 percent downturn in vegetable prices somewhat offset the overall advance.   

Imports by Locality of Origin: Prices of imports from China fell 0.2 percent in September and also 
declined 0.2 percent over the past 12 months. The price index for imports from Mexico also fell in 
September, edging down 0.1 percent. In contrast, import prices from the European Union and from Japan 
each ticked up 0.1 percent in September. The price index for imports from Canada was unchanged.  

Transportation Services: Import air passenger fares fell for the third consecutive month, declining 3.1 
percent in September. A 6.4 percent drop in Asian fares was the largest contributor to the overall decrease, 
and European fares and Latin American/Caribbean fares declined as well. Despite the recent decreases, 
import air passenger fares rose 16.7 percent over the past year. The price index for import air freight ticked 
up 0.2 percent in September and rose 21.1 percent over the past 12 months. 

Export Prices
 
Nonagricultural Industrial Supplies and Materials: Nonagricultural industrial supplies and materials 
prices rose 0.6 percent in September following a 1.6 percent rise in August. The September advance was 
primarily led by a 2.6 percent increase in nonferrous metals prices and a 0.9 percent rise in chemicals prices, 
which more than offset a 1.2 percent decline in fuel prices. 
 
Finished Goods: Finished goods prices were mostly up in September, with consumer goods prices rising 1.0 
percent and prices for automotive vehicles ticking up 0.1 percent. The price index for capital goods was 
unchanged.        

Transportation Services: Export air passenger fares fell 7.2 percent in September, led by a 16.4 percent 
drop in Asian fares. Overall, export air passenger fares rose 23.6 percent for the year ended in September. 
Export air freight prices increased 0.5 percent in September after a similar 0.6 percent rise in August. The 
index advanced 3.5 percent over the past year. 
		
Import and Export Price Index data for October 2010 are scheduled for release on Wednesday, 
November 10, 2010 at 8:30 a.m. (EST).

                                          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 
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Additional Information -- More detailed data are available on the Import/Export Price Indexes home 
page at (http://www.bls.gov/mxp).  Flat Files and the FTP server are available for users requiring access 
to either a large volume of time series data or other related documentation. The FTP site can be accessed 
at ftp://ftp.bls.gov.   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). 

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