U.S. Import and Export Price Indexes summary

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                              U.S. IMPORT AND EXPORT PRICE INDEXES - NOVEMBER 2017                              

U.S. import prices rose 0.7 percent in November, the U.S. Bureau of Labor Statistics reported today, after 
ticking up 0.1 percent in October. Higher prices for fuel drove the increase in November and nonfuel prices 
recorded no change. U.S. export prices increased 0.5 percent in November following a 0.1-percent advance 
the previous month.

Imports

All Imports: Import prices advanced 0.7 percent in November following rises of 0.1 percent in October and 
0.8 percent in September. Higher fuel prices were the main contributor to the overall advance in import 
prices for November. The import price index increased 3.1 percent over the past 12 months. U.S. import 
prices have not recorded an over-the-year decline since a 0.2-percent drop in October 2016.

Fuel Imports: The import price index for fuels rose 7.6 percent in November, after a 0.2-percent increase in 
October. Rising prices for import petroleum and natural gas contributed to the increase. Petroleum prices 
advanced 7.2 percent in November, the largest monthly rise since the index increased 7.5 percent in October 
2016. Natural gas prices rose 26.3 percent, the first monthly advance since the index increased 8.0 percent 
in April and the largest rise since the index advanced 28.0 percent in July 2016. Import fuel prices rose 22.2 
percent over the past year driven by a 24.1-percent increase in petroleum prices. In contrast, import prices 
for natural gas decreased 5.6 percent for the year ended in November.

All Imports Excluding Fuel: Nonfuel import prices recorded no change in November following a 0.1-
percent rise in October. Lower prices for foods, feeds, and beverages offset higher prices for nonfuel 
industrial supplies and materials, consumer goods, and automotive vehicles. Import capital goods prices 
recorded no change in November. The price index for nonfuel imports advanced 1.4 percent between 
November 2016 and November 2017. The 12-month increase was driven by higher prices for nonfuel 
industrial supplies and materials, capital goods, and consumer goods which more than offset lower prices 
for automotive vehicles and foods, feeds, and beverages. The last over-the-year decline in nonfuel import 
prices was a 0.2-percent decrease for the 12-month period ended November 2016.

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

2016

November

-0.1 -1.1 -0.1 0.1 0.7 0.0

December

0.4 5.8 0.0 0.4 -0.2 0.4

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 (r)4.0 0.3 (r)0.6 (r)0.0 (r)0.7

September

0.8 (r)5.7 0.3 (r)0.8 -0.7 0.9

October

(r)0.1 (r)0.2 (r)0.1 (r)0.1 1.9 (r)-0.1

November

0.7 7.6 0.0 0.5 -0.6 0.6

Nov. 2015 to 2016

0.2 6.1 -0.2 -0.2 -1.1 -0.2

Nov. 2016 to 2017

3.1 22.2 1.4 3.1 2.1 3.2

Footnotes
(r) Revised

Exports

All Exports: The export price index rose 0.5 percent in November, after ticking up 0.1 percent in October 
and advancing 0.8 percent in September. In November, higher nonagricultural export prices offset lower 
prices for agricultural exports. U.S. export prices advanced 3.1 percent over the past 12 months and have not 
recorded an over-the-year decrease since the index fell 0.2 percent in November 2016.

Agricultural Exports: Agricultural export prices declined 0.6 percent in November following a 1.9-percent 
increase in October. Lower prices for vegetables and meats led the drop, more than offsetting higher prices 
for fruit. The agricultural export price index rose 2.1 percent for the year ended in November, driven by 
advancing prices for meat, wheat, and nuts.

All Exports Excluding Agriculture: The nonagricultural export price index increased 0.6 percent in 
November, after edging down 0.1 percent in October. Export nonagricultural industrial supplies and 
materials prices advanced in November, driving the monthly rise despite lower prices for capital goods and 
automotive vehicles. Export consumer goods prices recorded no change. Nonagricultural export prices 
increased 3.2 percent for the 12 months ended in November, continuing an upward trend since the index last 
fell on an over-the-year basis in November 2016. The price indexes for export nonagricultural industrial 
supplies and materials, capital goods, and automotive vehicles contributed to the 12-month advance.

                                          SELECTED NOVEMBER HIGHLIGHTS                                          

Import Prices

Imports by Locality of Origin: Prices for imports from China increased 0.3 percent in November, after 
recording no change in October. The price index for imports from China has not recorded an increase larger 
than 0.3 percent since advancing 0.4 percent in October 2011. Despite the rise, import prices from China 
edged down 0.1 percent over the past year. Import prices from Japan decreased 0.1 percent in November. 
Prices for imports from Japan fell 1.2 percent between November 2016 and November 2017, the largest 12-
month drop since a 1.3-percent decline for the year ended April 2016. Prices for imports from Canada 
increased 2.2 percent in November, the largest monthly rise since the index increased 2.3 percent in June 
2016. The price index for imports from the European Union ticked up 0.1 percent in November and import 
prices from Mexico edged down 0.1 percent. 

Nonfuel Industrial Supplies and Materials: The import price index for nonfuel industrial supplies and 
materials advanced 0.9 percent in November, following a 0.8-percent increase in October. Higher prices for 
import chemicals and nonferrous metals drove the November advance. Nonfuel industrial supplies and 
materials import prices rose 8.8 percent over the past year, driven by higher prices for unfinished metals.

Finished Goods: Import finished goods prices were mixed in November. The price indexes for consumer 
goods and automotive vehicles each rose 0.1 percent. Import prices for capital goods recorded no change.

Foods, Feeds, and Beverages: The price index for import foods, feeds, and beverages declined 1.7 percent 
in November, after decreasing 0.4 percent in October. The drop was led by an 11.1-percent decrease in fruit 
prices and a 1.4-percent decline in fish and shellfish prices. Those decreases more than offset a 6.9-percent 
increase in vegetable prices.

Transportation Services: Import air passenger fares declined 2.3 percent in November, after an 8.8-percent 
increase in October. A 4.6-percent drop in Asian fares offset higher European and Latin America/Caribbean 
fares. Import air passenger fares declined 0.9 percent over the past 12 months. Import air freight prices 
increased 6.9 percent in November and rose 13.0 percent over the past year.

Export Prices

Nonagricultural Industrial Supplies and Materials: Prices for nonagricultural industrial supplies and 
materials exports rose 2.1 percent in November. A 5.3-percent increase in fuel prices led the overall advance 
in November. Nonagricultural industrial supplies and materials prices increased 8.3 percent over the past 
year.

Finished Goods: Export prices for capital goods edged down 0.1 percent in November; the first decrease 
since the index fell 0.1 percent in October 2016. A 0.7-percent decline in telecommunications equipment 
prices led the November drop despite a 0.5-percent increase in computer peripherals, accessories and parts 
prices. Automotive vehicle prices fell 0.1 percent and prices for consumer goods recorded no change.

Transportation Services: Export air passenger fares rose 0.4 percent in November, led by increases in 
European, Latin America/Caribbean, and Asian fares. Despite the increase, export air passenger fares 
declined 1.7 percent for the year ended in November. The export air freight price index advanced 1.8 
percent in November and increased 9.9 percent over the past year.
		
Import and Export Price Index data for December 2017 are scheduled for release on Wednesday, January 10, 
2018 at 8:30 a.m. (EST).

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Last Modified Date: December 14, 2017