Sharp drop in import prices in October
November 09, 2001
The U.S. Import Price Index decreased 2.4 percent in October. The decline, the largest since the Bureau began monthly publication of this index in 1989, was primarily attributable to a sharp decrease in petroleum prices.
October's decline in import prices was led by a 15.7-percent fall in the price index for petroleum and petroleum products, the biggest decline in this component since 1991. Meanwhile, the index for nonpetroleum import prices also fell in October, down 0.4 percent.
The overall decrease in import prices for the 12 months ended in October was 7.4 percent. From October 2000 to October 2001, the petroleum index dropped 32.5 percent. The nonpetroleum index dropped 3.1 percent from October 2000 to October 2001.
Despite the disruption in the metropolitan Washington mail service, response rates for October were not appreciably different from normal levels.
These data are a product of the BLS International Price program. Learn more in "U.S. Import and Export Price Indexes - October 2001," news release USDL 01-403. Note: import price data are subject to revision in each of the three months after original publication.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Sharp drop in import prices in October on the Internet at https://www.bls.gov/opub/ted/2001/nov/wk1/art05.htm (visited September 30, 2020).
Recent editions of Spotlight on Statistics
- Using BLS Data to Match People with Disabilities with Jobs Presents data that can help increase access and opportunity for people with disabilities in the nation’s labor market.
- How Women and Aging Affect Trends in Labor Force Growth Examines how women’s labor force participation and the aging of the U.S. population affect trends in labor force growth.
- Meal Appeal: Patterns of Expenditures on Food away from Home
Examines spending on food away from home, such as meals or snacks from restaurants, vending machines, employer cafeterias, or other venues.
- Job Flexibilities and Work Schedules in 2017–18
Examines data on job flexibilities, such as working at home, flexible schedules, and shift work.