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[IWS] BLS: U.S. IMPORT AND EXPORT PRICE INDEXES - AUGUST 2014 [12 September 2014]
IWS Documented News Service
Institute for Workplace Studies-----------------Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
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U.S. IMPORT AND EXPORT PRICE INDEXES - AUGUST 2014 [12 September 2014]
[full-text, 16 pages[
Supplemental Files Table of Contents
Prices for U.S. imports decreased 0.9 percent in August following a 0.3-percent decline in July, the U.S.
Bureau of Labor Statistics reported today. Both the August and July drops in overall import prices were
driven by lower fuel prices. U.S. export prices declined 0.5 percent in August, after ticking up 0.1 percent
the previous month.
All Imports: Prices for overall imports declined 0.9 percent in August, the largest monthly drop in import
prices since a 0.9-percent decrease in November 2013; those were the largest declines since a 2.3-percent
drop in June 2012. The August 2014 decrease resulted from lower fuel prices which more than offset a 0.1-
percent increase in nonfuel prices. The price index for overall imports fell 0.4 percent for the year ended in
August, the first 12-month decline since a 0.4-percent decrease in April.
Fuel Imports: Import fuel prices fell 4.6 percent in August following a 1.7-percent decline in July. The
August drop in fuel prices was the largest 1-month decrease for the index since an 8.5-percent decline in
June 2012. Both petroleum and natural gas prices contributed to the decrease in August fuel prices,
declining 4.4 percent and 11.6 percent, respectively. Prices for imported fuel decreased 4.5 percent over the
past year, after rising 4.1 percent between August 2012 and August 2013. The 12-month decrease for fuel
prices in August was led by a 5.3-percent drop in petroleum prices which more than offset a 35.4-percent
jump in natural gas prices.
All Imports Excluding Fuel: The 0.1-percent advance in nonfuel prices in August was the first monthly
uptick in the price index for nonfuel imports since a 0.3-percent rise in March. Higher prices for foods,
feeds, and beverages; nonfuel industrial supplies and materials; and automotive vehicles all contributed to
the August increase. The price index for nonfuel imports rose 0.7 percent over the past year.
AND MUCH MORE...including TABLES....
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