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[IWS] BLS: U.S. IMPORT AND EXPORT PRICE INDEXES - NOVEMBER 2014 [11 December 2014]
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
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U.S. IMPORT AND EXPORT PRICE INDEXES - NOVEMBER 2014 [11 December 2014]
[full-text, 16 pages]
Supplemental Files Table of Contents
U.S. import prices declined 1.5 percent in November, after falling 1.2 percent in October, the U.S. Bureau
of Labor Statistics reported today. Both decreases were driven by declining fuel prices. The price index for
U.S. exports fell 1.0 percent in November following a 0.9-percent drop the previous month.
All Imports: Prices for U.S. imports fell 1.5 percent in November, the largest monthly drop in import prices
since a 2.3-percent decrease in June 2012. Led by lower fuel prices, overall import prices declined in each
of the past 5 months, falling 4.2 percent over that period. The price index for imports fell 2.3 percent over
the past 12 months, the largest year-over-year decline since a 2.7-percent decrease between April 2012 and
Fuel Imports: Fuel prices decreased 6.7 percent in November, after declining 6.0 percent in October. Those
drops were the largest monthly decreases since the index fell 8.5 percent in June 2012. Both monthly
declines were driven by lower petroleum prices, which fell 6.9 percent in November and 6.4 percent in
October. In November, a 4.6-percent decrease in natural gas prices also contributed to the overall drop in
fuel prices, and followed a 0.4-percent advance the previous month. Fuel prices fell 11.5 percent for the year
ended November, the largest 12-month drop since the index fell 13.4 percent in July 2012. The November
2014 decrease was led by a 12.3-percent drop in petroleum prices, which more than offset a 10.6-percent
increase in natural gas prices over the same period.
All Imports Excluding Fuel: The price index for nonfuel imports decreased 0.2 percent for the third
consecutive month in November. Prior to the last 3 months, the last time the index fell by more than 0.2
percent was a 0.4-percent decline in July 2013. Lower prices for nonfuel industrial supplies and materials;
foods, feeds, and beverages; and each of the major finished goods categories contributed to the overall
decline. Nonfuel import prices were unchanged over the past 12 months as higher prices for consumer
goods and foods, feeds, and beverages offset falling prices for nonfuel industrial supplies and materials,
automotive vehicles, and capital goods.
AND MUCH MORE...including TABLES....
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