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Import prices decrease 10.7 percent between September 2014 and September 2015

October 14, 2015

The price index for overall imports decreased 10.7 percent between September 2014 and September 2015 and has not recorded a 12-month increase since July 2014. Prices of imports from the Asia Near East region (countries in and near the Arabian Peninsula) decreased 34.7 percent.

12-month percentage change in U.S. import price indexes by locality of origin, September 2014 to September 2015
Locality 12-month percent change

Asia Near East
(Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, United Arab Emirates and Yemen)

-34.7

Canada

-17.6

Nonmanufactured articles

-37.8

Manufactured articles

-8.1

Latin America
(Mexico, Central America, South America and the Caribbean)

-14.2

Nonmanufactured articles

-36.7

Manufactured articles

-5.9

Other countries
(Eastern Europe, Latin America, OPEC countries, and other countries in Asia, Africa and the Western Hemisphere)

-10.9

Nonmanufactured articles

-38.3

Manufactured articles

-4.7

Industrialized countries
(Western Europe, Canada, Japan, Australia, New Zealand and South Africa)

-9.2

Nonmanufactured articles

-37.3

Manufactured articles

-5.2

Mexico

-8.3

Nonmanufactured articles

-37.3

Manufactured articles

-3.0

United Kingdom

-7.7

ASEAN
(Association of Southeast Asian Nations: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam)

-3.4

Japan

-3.2

European Union

-3.1

Nonmanufactured articles

-3.0

Asian NICs
(Asian Newly Industrialized Countries: Hong Kong, Singapore, South Korea and Taiwan)

-2.9

Pacific Rim
(China, Japan, Australia, Brunei, Indonesia, Macao, Malaysia, New Zealand, Papua New Guinea, Philippines and the Asian Newly Industrialized Countries)

-2.3

Germany

-1.4

China

-1.3

France

-1.1

Prices fell over the year by 17.6 percent for imports from Canada and by 8.3 percent for imports from Mexico.

Prices for imports from China declined 1.3 percent over the 12 months ending in September. Prices for imports from Japan decreased 3.2 percent. Import prices from the European Union declined 3.1 percent over the year.

The decline in prices of nonmanufactured articles led the price decreases in imports from both industrialized countries and other countries.

These data are from the International Price program and are subject to revision. To learn more, see "U.S. Import and Export Price Indexes – September 2015" (HTML) (PDF).

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import prices decrease 10.7 percent between September 2014 and September 2015 on the Internet at https://www.bls.gov/opub/ted/2015/import-prices-decrease-10-point-7-percent-between-september-2014-and-september-2015.htm (visited August 14, 2020).

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