Import prices down again in November 2008
December 12, 2008
Import prices fell 6.7 percent in November after decreases of 5.4 percent, 3.5 percent, and 3.1 percent in October, September, and August, respectively. The November decline was the largest one-month drop since the index was first published monthly in December 1988.
The 17.4-percent decrease over the past four months was the largest four-month decline since the index was first published in September 1982. Import prices decreased 4.4 percent for the year ended in November; in contrast, prices for imports increased 21.4 percent from July 2007 to July 2008.
The four-month decline in import prices was largely driven by falling petroleum prices, which decreased 25.8 percent in November after declining 19.8 percent, 11.2 percent, and 9.8 percent, respectively, in October, September, and August. The November drop in petroleum prices was the largest monthly decline since the index was first published monthly in December 1988 and the 52.3-percent decrease over the past four months was the largest four-month decline since the index was first published in June 1982. For the November 2007-2008 period, petroleum prices fell 29.0 percent.
The price index for nonpetroleum imports fell 1.8 percent in November, the largest decrease since the index was first published monthly in December 1988. Despite the recent declines, the index increased 2.4 percent over the past year.
These data are from the BLS International Price program. Import price data are subject to revision. Learn more in "U.S. Import and Export Price Indexes -- November 2008," (PDF) (HTML) news release USDL 08-1804.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import prices down again in November 2008 on the Internet at https://www.bls.gov/opub/ted/2008/dec/wk2/art05.htm (visited January 19, 2017).
Recent editions of Spotlight on Statistics
Workplace injuries and illnesses and employer costs for workers’ compensation
Workplace injury and illness data and the costs to employers for workers’ compensation in natural resources, construction, and maintenance occupations.
A look at the future of the U.S. labor force to 2060
Projected long-term trends in the growth, size, and composition of the labor force.
Union membership in the United States
Historical trends in union membership among employed wage and salary workers; union membership by a variety of demographic characteristics.
A look at healthcare spending, employment, pay, benefits, and prices
Spending on healthcare, current and projected employment in the industry, employer-provided healthcare benefits, healthcare prices, and pay for workers in healthcare occupations.
Self-employment in the United States
Trends in self-employment by various demographic and socioeconomic characteristics, including both the unincorporated and the incorporated self-employed, as well as data on paid employees who work for the self-employed.