November 14, 2007
Prices for U.S. exports rose 0.9 percent in October after a 0.3-percent increase the previous month.
The 0.9-percent increase in export prices in October was the largest one-month gain in the index since a 1.0 percent increase in April 1995. Higher prices for both agricultural and nonagricultural exports contributed to the advance.
Agricultural prices increased 3.9 percent in October after a 4.1-percent rise the previous month and advanced 26.8 percent over the past year. The October increase was driven by a sharp rise in wheat prices, which rose 18.9 percent following a 22.0-percent increase in September. Higher prices for soybeans, vegetables, and corn also contributed to the overall advance in agricultural prices.
Nonagricultural prices increased 0.5 percent in October after recording a 0.1-percent decline the previous month. For the year ended in October, nonagricultural prices rose 3.9 percent while overall export prices advanced 5.6 percent.
The October increase in nonagricultural prices was led by a 1.2-percent rise in the price index for nonagricultural industrial supplies and materials. The advance followed a 0.3-percent downturn in September. Rising prices for fuel, metals, and chemicals were the main contributors to the October increase.
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 2007" (PDF) (TXT), news release USDL 07-1742.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Export prices in October 2007 at https://www.bls.gov/opub/ted/2007/nov/wk2/art02.htm (visited August 16, 2022).