Import prices turn down in July 2009
August 17, 2009
The U.S. import price index fell 0.7 percent in July. Decreases for both petroleum prices and nonpetroleum prices contributed to the July drop for overall prices, which followed four consecutive monthly increases.
A downturn in petroleum prices, which fell 2.8 percent in July, was the primary factor for the turnaround in overall import prices. Prices for import petroleum rose 66.6 percent over the previous five months, which led overall imports up 6.0 percent over that period. Despite the jump between February and June, petroleum prices fell 49.9 percent over the past year.
Overall import prices posted the largest annual decline since the index was first published in 1982, falling 19.3 percent for the year ended in July.
Nonpetroleum import prices declined 0.2 percent in July, resuming a downward trend over the past year after advancing the past two months. Nonpetroleum prices fell 7.3 percent over the past 12 months, the largest annual decrease since the index was first published in 1985.
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 -- July 2009" (HTML) (PDF), news release USDL 09-0936.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import prices turn down in July 2009 on the Internet at https://www.bls.gov/opub/ted/2009/ted_20090817.htm (visited August 15, 2020).
Recent editions of Spotlight on Statistics
- 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.
- Job Flexibilities and Work Schedules in 2017–18
Examines data on job flexibilities, such as working at home, flexible schedules, and shift work.