The U.S. Import Price Index decreased 1.0 percent in November, after showing no change in October. The decline was attributable to falling petroleum prices.
Led by a decline in petroleum prices, the index for all imports fell 1.0 percent in November – the first monthly decline since June and the second decrease in 2002. The petroleum index, which had increased in 9 of the previous 10 months, declined 10.0 percent in November. Last month’s decrease was the largest since the index dropped 13.1 percent in November 2001. In contrast, the price index for nonpetroleum imports edged up 0.1 percent in November, after dipping 0.1 percent in October.
The Export Price Index rose 0.1 percent in November, after decreasing the same amount in the previous month.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import prices down in November at https://www.bls.gov/opub/ted/2002/dec/wk2/art05.htm (visited December 10, 2023).