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                         U.S. IMPORT AND EXPORT PRICE INDEXES - SEPTEMBER 2013


U.S. import prices advanced 0.2 percent for the second consecutive month in September, the U.S. Bureau of 
Labor Statistics reported today. The increase in each of the past two months was led by rising fuel prices. 
The price index for U.S. exports rose 0.3 percent in September after falling the previous six months.  


Imports

All Imports: Import prices rose 0.2 percent in September following a 0.2 percent advance the previous 
month. Those were the first monthly increases for the index since a 0.9 percent rise in February. Higher fuel 
prices were the largest contributor to the September advance in overall import prices, although nonfuel prices 
increased as well. Despite the recent advances, import prices declined 1.0 percent over the past 12 months, 
the second consecutive month of decreasing year-over-year changes. 

Fuel Imports: The price index for import fuel rose 0.6 percent in September, after advancing 1.6 percent in 
August. In September, a 0.8 percent increase in petroleum prices, the largest component of imported fuels, 
more than offset a 6.9 percent drop in natural gas prices. Even with the September increase, fuel prices fell 
0.2 percent over the past 12 months, led by a 0.4 percent drop in petroleum prices. In contrast, natural gas 
prices increased 8.3 percent over the past year.         

All Imports Excluding Fuel: Nonfuel import prices ticked up 0.1 percent in September, the first advance 
since a 0.1 percent rise in February. A 0.6 percent increase in nonfuel industrial supplies and materials prices 
was the largest contributor to the overall advance, while prices for foods, feeds, and beverages rose as well. 
Despite the September increase, the price index for nonfuel imports fell 1.2 percent over the past year.


Table A. Percent change in import and export price indexes, selected categories

Exports

All Exports: Export prices advanced 0.3 percent in September, the largest monthly rise since a 0.7 percent 
increase in February. Higher nonagricultural and agricultural prices each contributed to the September 
increase. Between September 2012 and September 2013, however, export prices fell 1.6 percent, the largest 
year-over-year decline since the index fell 2.1 percent between June 2011 and June 2012.  

Agricultural Exports: The price index for agricultural exports increased 0.7 percent in September after 
declining 4.2 percent and 0.3 percent the previous two months. An 8.7 percent increase in soybean prices 
more than offset a 3.1 percent decline in corn prices and a 4.0 percent drop in the export price index for 
nuts. Prices for agricultural exports fell 6.3 percent for the past 12 months. Falling prices for corn, soybeans, 
and wheat over the past year drove the decline in overall agricultural prices. 

All Exports Excluding Agriculture: Nonagricultural export prices advanced 0.3 percent in September after 
recording no change the previous month. Rising prices for nonagricultural industrial supplies and materials 
and capital goods drove the September increase. Despite rising 0.2 percent over the past three months, 
nonagricultural export prices declined 0.9 percent for the September 2012-13 period. 



                              SELECTED SEPTEMBER HIGHLIGHTS

Import Prices

Imports by Locality of Origin: Prices for imports from China ticked up 0.1 percent in September, after 
recording no change the previous month. Despite the September upturn, import prices from China declined 
1.0 percent over the past 12 months. The price index for imports from the European Union rose 0.4 percent 
in September, the largest monthly advance for the index since a 0.7 percent increase in February. Prices for 
imports from Canada and Mexico also advanced in September, each rising 0.1 percent. In contrast, import 
prices from Japan resumed a downward trend in September after recording no change in August. Prices for 
imports from Japan fell 0.2 percent in September, and the index decreased 2.8 percent over the past year, the 
largest 12 month drop for the index since a 2.9 percent drop between November 2001 and November 2002.

Nonfuel Industrial Supplies and Materials: Nonfuel industrial supplies and materials increased 0.6 percent 
in September following a 0.8 percent drop the previous month. The September turnaround resulted primarily 
from a 1.9 percent advance in unfinished metal prices, after that index fell 1.1 percent in August. Despite 
the September upturn, unfinished metal prices decreased 7.1 percent over the past 12 months.  

Finished Goods: Prices for the major finished goods categories were mostly unchanged in September. 
Prices for consumer goods edged down 0.1 percent, led by lower prices for imported televisions and video 
receivers. The price indexes for capital goods and automotive vehicles each recorded no change in 
September, after declining 0.1 percent the previous month.  

Foods, Feeds, and Beverages: Foods, feeds, and beverages prices advanced 0.5 percent in September 
following a 0.3 percent rise in August. The September increase was driven by a 2.6 percent advance in fish 
and shellfish prices, and a 3.6 percent rise in vegetable prices. 

Transportation Services: Import air passenger fares recorded no change in September, after decreases of 
7.9 percent in August and 3.9 percent in July. In September, a 4.7 percent increase in European fares offset 
lower Asian and Latin American/Caribbean fares. Import air passenger fares advanced 1.1 percent for the 
year ended in September. Prices for import air freight rose 0.6 percent in September and fell 0.6 percent over 
the past year. 

Export Prices

Nonagricultural Industrial Supplies and Materials: Nonagricultural industrial supplies and materials 
prices increased 0.8 percent in September following a 0.3 percent advance the previous month. The 
September rise was the largest monthly increase since a 1.4 percent advance in February, and was led by 
higher metals and fuel prices. 

Finished Goods: Capital goods prices ticked up 0.1 percent in September, while the price indexes for 
consumer goods and automotive vehicles were unchanged. Each of the major finished goods indexes 
recorded declines in August. 

Transportation Services: Export air passenger fares fell 10.3 percent in September, the first monthly 
decline for the index since a 2.6 percent drop in April. The decrease in September drove the index for export 
air passenger fares down 0.1 percent over the past year. Export air freight prices rose 0.8 percent in 
September and 0.4 percent over the past 12 months.  

                                          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).  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). 

Information from this release will be made available to sensory impaired individuals upon request.  
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