November 14, 2006
Export prices declined 0.4 percent in October following a similar 0.4-percent drop in September, marking the first time the index has decreased in consecutive months in over three years.
A 0.5-percent decrease in nonagricultural prices more than offset a 1.1-percent increase in the price index for agricultural exports. Agricultural prices resumed an upward trend after declining 0.5 percent in September. The October increase was led by higher prices for corn, wheat, and soybeans. Prices for agricultural exports increased 5.4 percent over the past 12 months.
The decrease in nonagricultural prices followed a 0.3-percent decline in September, which was the first monthly drop for the index since November 2005. Despite the October decreases, the price indexes for both nonagricultural exports and overall exports increased for the October 2005-2006 period, rising 2.6 percent and 2.8 percent, respectively.
These data are from the BLS International Price program. Export price data are subject to revision. Learn more in "U.S. Import and Export Price Indexes - October 2006," news release USDL 06-1958.