BLS report: Import prices advance 0.5% in April, up 0.3% excluding fuel; export prices up 0.2%

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Import prices advance 0.5% in April, up 0.3% excluding fuel; export prices up 0.2%

Economic News Release USDL-17-0591

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U.S. IMPORT AND EXPORT PRICE INDEXES - APRIL 2017

The price index for U.S. imports advanced 0.5 percent in April, the U.S. Bureau of Labor Statistics reported today, after ticking up 0.1 percent the previous month. Higher fuel prices and nonfuel prices each contributed to the increase in April. U.S. export prices rose 0.2 percent in April following a 0.1-percent advance in March. Prices for U.S. exports have not recorded a monthly decline since the index fell 0.8 percent in August 2016.

Imports

All Imports: Import prices rose 0.5 percent in April and have not recorded a monthly decline since the index edged down 0.1 percent in November. Prices for U.S. imports rose 4.1 percent for the year ended in April, continuing the recent trend of 12-month increases over 4.0 percent, which are the largest over-the-year advances for the index since a 5.1-percent increase in February 2012. Import prices have risen on a 12-month basis since November.

Fuel Imports: Fuel prices rose 1.6 percent in April following a 0.9-percent decline the previous month. A 1.6-percent advance in petroleum prices and a 4.0-percent rise in natural gas prices each contributed to the April increase in overall fuel prices. The price index for import fuel advanced 42.7 percent over the past year in contrast to a 31.7-percent decline for the previous 12-month period ended April 2016. Petroleum prices rose 43.8 percent between April 2016 and April 2017 and natural gas prices increased 48.9 percent over the same period.

All Imports Excluding Fuel: The price index for nonfuel prices advanced 0.3 percent in April, after increasing 0.2 percent in March and 0.4 percent in February. In April, higher prices for nonfuel industrial supplies and materials; foods, feeds, and beverages; and each of the major finished goods categories all contributed to the overall rise in nonfuel prices. Prices for nonfuel imports advanced 1.1 percent for the year ended in April. Rising prices for nonfuel industrial supplies and materials; automotive vehicles; foods, feeds, and beverages; and consumer goods more than offset lower capital goods prices for the year.
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Exports

All Exports: U.S. export prices continued to rise in April, increasing 0.2 percent. Higher prices for both agricultural and nonagricultural exports contributed to the overall advance in export prices. Prices for U.S. exports rose 3.0 percent over the past 12 months following a 5.1-percent drop for the year ended April 2016.
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Import and Export Price Index data for May 2017 are scheduled for release on Thursday, June 15, 2017 at 8:30 a.m. (EDT).

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