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U.S. import prices up 2.7 percent from November 2021 to November 2022

December 21, 2022

U.S. import prices decreased 0.6 percent in November 2022 and have not increased in any month since a 0.2-percent increase in June 2022. From November 2021 to November 2022, U.S. import prices increased 2.7 percent, the smallest 12-month increase since January 2021.

Percent change in U.S. import prices, selected categories, November 2022
Category 1-month percent change 12-month percent change

All imports

-0.6% 2.7%

Foods, feeds, & beverages

1.8 4.0

Agricultural foods, feeds & beverages

2.5 6.1

Nonagricultural foods (fish, distilled beverages)

-1.2 -3.9

Industrial supplies & materials

-2.5 3.7

Fuels & lubricants

-2.8 10.1

Paper & paper base stocks

-2.4 19.7

Materials associated with nondurable supplies & materials

-1.8 5.1

Selected building materials

-0.5 7.1

Unfinished metals related to durable goods

-3.9 -7.3

Finished metals related to durable goods

-3.6 0.1

Nonmetals related to durable goods

0.2 4.4

Capital goods

0.1 3.0

Electric generating equipment

0.2 4.7

Nonelectrical machinery

0.1 2.4

Transportation equipment excluding motor vehicles

0.1 6.2

Automotive vehicles, parts & engines

0.0 3.0

Consumer goods, excluding automotives

-0.2 0.6

Nondurables, manufactured

-0.2 -0.8

Durables, manufactured

-0.2 1.8

Nonmanufactured consumer goods

-0.6 4.3

Import prices for foods, feeds, and beverages increased 1.8 percent in November 2022, the largest 1-month rise since January. The November advance was driven by a 13.1-percent rise in fruit prices and a 10.0-percent increase in vegetable prices. Over the year, prices for foods, feeds, and beverages rose 4.0 percent.

Import prices for industrial supplies and materials fell 2.5 percent in November, as monthly decreases occurred in fuels and lubricants (−2.8 percent), paper and paper base stocks (−2.4 percent), materials associated with nondurable supplies and materials (−1.8 percent), selected building materials (−0.5 percent), unfinished metals related to durable goods (−3.9 percent), and finished metals related to durable goods (−3.6 percent).

From November 2021 to November 2022, import prices for industrial supplies and materials increased 3.7 percent.

These data are from the International Price program and are not seasonally adjusted. To learn more, see "U.S. Import and Export Price Indexes — November 2022." We also have more charts on U.S. import and export prices. Import price changes may be revised in each of the 3 months after original publication.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, U.S. import prices up 2.7 percent from November 2021 to November 2022 at https://www.bls.gov/opub/ted/2022/u-s-import-prices-up-2-7-percent-from-november-2021-to-november-2022.htm (visited January 30, 2023).

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