January 1995 U.S. Import and Export Price Indexes

Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

-JANUARY 1995-

The U.S. Import Price Index increased 0.2 percent in January, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The index had been unchanged in December after advancing 0.7 percent in each of the previous 2 months. The U.S. Export Price Index rose 0.9 percent in January following gains of 0.7 percent in both of the preceding 2 months and 0.6 percent in October.

Import Goods

The January upturn in import prices was primarily due to a turnaround in the index for petroleum imports. Prices for petroleum imports increased 1.2 percent in January after falling 2.1 percent in the previous month.

Nonpetroleum import prices continued to record a modest gain in January, rising 0.1 percent. The increase was largely attributable to a 1.3 percent gain in the index for nonpetroleum industrial supplies and materials and a 0.7 percent rise in the foods, feeds, and beverages index. Over the past 12 months, these indexes have recorded significant gains of 9.9 and 15.0 percent, respectively.

In contrast, import price indexes for each of the major finished goods components fell in January. Prices continued to move lower for capital goods, down 0.3 percent, and for automotive vehicles, parts, and engines, down 0.2 percent. The index for consumer goods, which had been unchanged in December, fell 0.1 percent this month.

Export Goods

Price increases for exports continued to accelerate, rising 0.9 percent in January, 2.8 percent over the past 4 months, and 4.0 percent for the year ended in January. The advance was led by the index for nonagricultural exports which continued its long upward trend, rising 0.9 percent this month, 2.7 percent over the past 4 months, and 4.9 percent for the year ended in January.

Nonagricultural industrial supplies and materials were up 2.3 percent in January and 16.4 percent for the year. In addition, all major finished good categories posted gains in January. Following decreases in December, the capital goods index increased 0.4 percent, and the consumer goods index rose 0.1 percent in January. For the year ended in January, however, capital goods prices were down 0.6 percent. The index for automotive vehicles, parts, and engines continued to increase, rising a modest 0.1 percent in January.

In contrast, the index for agricultural exports was unchanged this month. Agricultural export prices were down 2.8 percent for the year, despite increasing 3.8 percent over the past 4 months.

Imports by Country or Region of Origin

The index for prices of imports from Japan posted a small turnaround in January, falling 0.2 percent. Despite the decrease, import prices from Japan rose 3.2 percent over the past 12 months. For the second consecutive month, prices for imported goods from the European Community fell, dropping 0.3 percent in January. Over the past 12 months, however, the index for imported goods from the European Community rose 4.4 percent.

In contrast, the import index for the Asian Newly Industrialized Countries was unchanged in January and down 0.7 percent over the past year. Import prices from Canada continue to increase, rising 1.0 percent in January. For the year ended in January, the import price index from Canada rose 7.5 percent.