U.S. Import and Export Price Indexes summary

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                         U.S. IMPORT AND EXPORT PRICE INDEXES - JANUARY 2018

U.S. import prices increased 1.0 percent in January, the U.S. Bureau of Labor Statistics reported today, after 
rising 0.2 percent in December. Higher prices for both nonfuel imports and fuel imports contributed to the 
January advance. Prices for U.S. exports rose 0.8 percent in January following a 0.1-percent increase the 
previous month.


Imports

All Imports: The price index for U.S. imports rose 1.0 percent in January, after increases of 0.2 percent in 
December and 1.0 percent in November. The 1.0-percent advances were the largest 1-month rises since the 
index increased 1.2 percent in May 2016. Import prices advanced 3.6 percent between January 2017 and 
January 2018.  

Fuel Imports: Fuel prices increased 4.7 percent in January following a 2.9-percent advance in December 
and a 9.8-percent rise in November. Higher prices for petroleum and natural gas contributed to the increases 
in all 3 months. Prices for petroleum advanced 4.3 percent in January, after rising 2.3 percent the previous 
month and 9.5 percent in November. The price index for natural gas increased 20.7 percent in January 
following advances of 20.0 percent in December and 25.7 percent in November. Prices for fuel imports rose 
19.7 percent over the past 12 months. Petroleum prices increased 20.9 percent for the year ended in January 
and prices for natural gas advanced 16.2 percent over the same period.  

All Imports Excluding Fuel: Prices for nonfuel imports advanced 0.4 percent in January, after edging 
down 0.1 percent the previous month. The January increase was the largest monthly advance since the index 
rose 0.4 percent in March 2012. The last time the index increased more than 0.4 percent was a 0.8-percent 
rise in April 2011. Prices for nonfuel industrial supplies and materials; automotive vehicles; foods, feeds, 
and beverages; and capital goods all contributed to the January advance. The price index for nonfuel imports 
increased 1.9 percent over the past 12 months, the largest over-the-year rise since the index advanced 2.0 
percent in March 2012. The January 12-month advance was primarily driven by rising prices for nonfuel 
industrial supplies and materials.  


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

Month IMPORTS EXPORTS
All
imports
Fuel
imports
Nonfuel
imports
All
exports
Agri-
cultural
exports
Non-
agricultural
exports

2017

January

0.6 6.1 -0.1 0.2 0.4 0.2

February

0.3 0.3 0.3 0.3 1.4 0.3

March

-0.2 -3.0 0.2 0.1 1.1 0.0

April

0.2 -0.4 0.3 0.2 0.1 0.3

May

-0.1 -0.9 0.1 -0.6 -1.6 -0.4

June

-0.2 -3.6 0.1 -0.1 -1.4 0.0

July

-0.2 -1.0 -0.1 0.5 1.8 0.3

August

0.6 4.0 0.3 0.6 0.0 0.7

September

0.8 5.7 0.3 0.8 -0.7 0.9

October

0.2 0.3 (r)0.1 0.1 2.0 -0.1

November

(r)1.0 (r)9.8 (r)0.0 0.5 (r)-0.7 (r)0.7

December

(r)0.2 (r)2.9 -0.1 (r)0.1 (r)-0.3 (r)0.1

2018

January

1.0 4.7 0.4 0.8 -0.1 0.9

Jan. 2016 to 2017

3.8 56.9 0.2 2.4 1.3 2.4

Jan. 2017 to 2018

3.6 19.7 1.9 3.4 1.4 3.7

Footnotes
(r) Revised


Exports

All Exports: U.S. export prices increased 0.8 percent in January. The index has not risen by more than 0.8 
percent since the index advanced 1.1 percent in May 2016. In January, the increase in nonagricultural prices 
more than offset a decline in agricultural prices. The price index for exports increased 3.4 percent over the 
past 12 months.   

Agricultural Exports: Prices for agricultural exports edged down 0.1 percent in January, after falling 0.3 
percent the previous month. The January drop was driven by a 5.8-percent decline in soybean and other 
oilseeds prices. Despite the recent decreases, prices for agricultural exports rose 1.4 percent over the past 
year. Rising meat prices were the primary contributor to the advance in agricultural prices for the year ended 
in January.    

All Exports Excluding Agriculture: Nonagricultural export prices advanced 0.9 percent in January 
following a 0.1-percent rise in December. The price indexes for nonagricultural industrial supplies and 
materials; capital goods; automotive vehicles; and consumer goods all rose in January. Prices for 
nonagricultural export indexes advanced 3.7 percent from January 2017 to January 2018, the largest 12-
month increase since a 4.0-percent rise for the year ended December 2011.  



                                      SELECTED JANUARY HIGHLIGHTS

Import Prices

Imports by Locality of Origin: Prices for imports from Japan increased 0.6 percent in January, after 
recording no change the previous month. The January advance was the first monthly rise since the index 
ticked up 0.1 percent in September and the largest 1-month advance since a 0.6-percent rise in January 
2011. In January, import prices from China recorded no change for the second consecutive month. The price 
index for imports from China rose 0.2 percent for the year ended in January, the first 12-month advance 
since the index increased 0.1 percent in October 2014 and the largest since the index advanced 0.3 percent 
in July 2014. Higher fuel prices led the January increase for import prices from Canada, up 2.5 percent, and 
Mexico, up 0.7 percent. Prices for imports from the European Union also rose, increasing 0.5 percent.      

Nonfuel Industrial Supplies and Materials: The price index for nonfuel industrial supplies and materials 
increased 1.8 percent in January following a 0.2-percent drop in December. The January rise was driven by 
higher metals prices and was the largest monthly advance since a 2.0-percent rise in March 2011. 

Finished Goods: Finished goods prices were mostly up in January. Prices for automotive vehicles advanced 
0.5 percent in January led by rising prices for passenger cars. The price index for capital goods also rose in 
January, ticking up 0.1 percent. Consumer goods prices recorded no change. 

Foods, Feeds, and Beverages: Foods, feeds, and beverages prices rose 0.8 percent in January following a 
0.9-percent decline in December. The January increase was driven by higher prices for fruit, bakery 
products, and vegetables.

Transportation Services: Import air passenger fares fell 3.2 percent in January, after increasing 6.5 percent 
in December. The January decline was led by an 11.1-percent drop in Asian fares and a 13.0-percent 
decrease in Latin American/Caribbean fares, which more than offset higher European fares. Despite the 
January decline, import air passenger fares rose 2.6 percent over the past year. The price index for import air 
freight prices decreased 3.0 percent in January and increased 8.7 percent over the past 12 months.  


Export Prices

Nonagricultural Industrial Supplies and Materials: Nonagricultural industrial supplies and materials 
prices increased 2.1 percent in January, after edging down 0.1 percent in December. The January advance 
was driven by a 4.5-percent rise in fuel prices and a 3.0-percent increase in metals prices.

Finished Goods: Prices for each of the major finished goods categories increased in January. Capital goods 
prices advanced 0.5 percent. Higher prices for nonelectrical machinery, transportation equipment, and 
electrical machinery all contributed to the January advance. The price indexes for consumer goods and 
automotive vehicles also rose in January, each increasing 0.3 percent. 

Transportation Services: Export air passenger fares advanced 5.6 percent in January following a 3.3-
percent rise the previous month. Both increases were driven by higher Asian and Latin American/Caribbean 
fares which more than offset lower European fares in January and December. Despite the recent increases, 
export air passenger fares fell 1.0 percent for the year ended in January. Prices for export air freight 
increased 0.2 percent in January and 7.5 percent over the past year.   

Import and Export Price Index data for February are scheduled for release on Thursday, March 15, 2018 at 
8:30 a.m. (EDT).


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Last Modified Date: February 16, 2018