Import prices down in October 2005
November 14, 2005
Import prices declined 0.3 percent in October after increasing 2.3 percent in September. A downturn in petroleum prices more than offset higher nonpetroleum prices.
The 0.3-percent decline in the price index of U.S. imports marked the first decrease for the index since May and only the second monthly drop recorded in 2005. Prior to the October decline, import prices rose 6.3 percent between May and September, driven by a 36.2-percent jump in petroleum prices over that period.
In October, petroleum prices decreased 4.4 percent, but still rose 30.9 percent over the past 12 months. In contrast, nonpetroleum prices continued to rise, increasing 0.8 percent last month after advancing 1.0 percent in September. For the year ended in October, prices of nonpetroleum imports rose 3.7 percent while overall import prices increased 8.1 percent.
Export prices increased 0.6 percent in October, as rising prices for both agricultural exports and nonagricultural exports contributed to the advance.
These data are from the BLS International Price program. Import and export price data are subject to revision. Learn more in "U.S. Import and Export Price Indexes - October 2005" (PDF) (TXT), news release USDL 05-2146.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import prices down in October 2005 on the Internet at https://www.bls.gov/opub/ted/2005/nov/wk2/art01.htm (visited October 29, 2020).
Recent editions of Spotlight on Statistics
- Gulf War Era Veterans in the Labor Force
Examines the demographic, employment, and unemployment characteristics of civilians who served in the U.S. military during Gulf War era.
- 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.