Friday, January 13, 2012
[IWS] BLS: U.S. IMPORT AND EXPORT PRICE INDEXES - DECEMBER 2011 [13 January 2012]
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
U.S. IMPORT AND EXPORT PRICE INDEXES - DECEMBER 2011 [13 January 2012]
[full-text, 16 pages]
Supplemental Files Table of Contents
U.S. import prices edged down 0.1 percent in December, the U.S. Bureau of Labor Statistics reported
today, after rising 0.8 percent the previous month. In December, declining prices for fuels more than offset a
0.1 percent rise in nonfuel prices. Export prices also decreased in December, falling 0.5 percent following a
0.1 percent advance in November.
All Imports: Import prices resumed a downward trend, declining 0.1 percent following a 0.8 percent upturn
in November. The price index for overall imports rose 8.5 percent in 2011, driven by a 9.2 percent increase
for the index over the first five months of the year. 2011 was the third consecutive year that import prices
rose, advancing 5.3 percent and 8.6 percent, respectively in 2010 and 2009, after declining 10.1 percent in
Fuel Imports: Fuel prices fell 0.5 percent in December after rising 3.7 percent in November. In December,
lower prices for both petroleum and natural gas, down 0.4 percent and 4.9 percent, respectively, each
contributed to the overall decline. Despite falling 3.4 percent since April, overall fuel prices advanced 25.2
percent in 2011 as a 27.4 percent rise in petroleum prices more than offset a 9.4 percent drop in natural gas
prices. Fuel prices previously advanced 14.2 percent in 2010 and 62.2 percent in 2009.
All Imports Excluding Fuel: The price index for nonfuel imports ticked up 0.1 percent in December
following 0.2 percent decreases in each of the two previous months. In December, higher prices for each of
the major finished goods categories led nonfuel import prices up despite lower prices for nonfuel industrial
supplies and materials and foods, feeds, and beverages. Nonfuel import prices advanced 3.4 percent over the
past year after rising 3.0 percent in 2010. Higher prices for nonfuel industrial supplies and materials; foods,
feeds, and beverages; and finished goods all contributed to the 2011 increase in nonfuel prices.
All Exports: Prices for overall exports declined 0.5 percent in December, following a 0.1 percent advance in
November and a 2.0 percent decrease in October. In December, falling prices for both agricultural exports
and nonagricultural exports factored into the decrease in export prices. The price index for overall exports
rose 3.6 percent in 2011 after rising 6.5 percent in 2010 and 3.4 percent in 2009.
Agricultural Exports: The price index for agricultural exports fell 2.6 percent in December, driven by lower
prices for corn, soybeans, and wheat, down 8.2 percent, 4.0 percent, and 7.8 percent, respectively.
Agricultural prices advanced 0.8 percent in 2011 despite falling 7.4 percent in the final quarter of the year.
Agricultural prices rose 20.5 percent in 2010 and 9.2 percent in 2009 in contrast to the relatively small
increase in 2011. The rise in agricultural prices in 2011 was driven by a 28.1 percent increase in vegetable
prices and a 7.9 percent advance in corn prices.
All Exports Excluding Agriculture: Nonagricultural prices fell 0.2 percent in December, led by lower
prices for nonagricultural supplies and materials. Prices for nonagricultural exports rose 4.0 percent in 2011
after a 5.1 percent increase the previous year and a 2.9 percent advance in 2009.
AND MORE...including CHARTS & TABLES...
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