August 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.

-AUGUST 1995-

The U.S. Import Price Index edged down 0.1 percent in August, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The decline followed larger decreases in the 2 preceding months. The U.S. Export Price Index fell 0.5 percent in August, the largest 1-month decrease in this series since December 1991.

Import Goods

The continued decline in import prices in August again was attributable to lower fuel prices, as the index for imported petroleum fell for the third consecutive month. The 0.9 percent decline in the petroleum index, however, was considerably less than the 6.1 percent drop registered in July. Since May, the index has decreased more than 10 percent.

The index for nonpetroleum imports was unchanged in August, after a 0.5 percent increase in July. The index for nonpetroleum industrial supplies and materials rose 0.2 percent in August, due largely to gains for imported paper and metals, following a 1.1 percent advance in July. The index for imported foods, feeds, and beverages also increased, rising 0.8 percent, and the index for consumer goods edged up 0.1 percent. In contrast, the capital goods index fell 0.2 percent, and prices for automotive vehicles, parts, and engines were down 0.1 percent in August; both indexes had increased in July.

Export Goods

Lower agricultural prices led the decrease in the export price index in August. The 1.2 percent decline in agricultural prices this month, the first since January, was in sharp contrast to the 3.8 percent increase in July and the 13.4 percent gain recorded over the previous 12 months.

Nonagricultural export prices also decreased in August, falling 0.4 percent after declining 0.2 percent in July. The most recent monthly decrease was the largest posted for this index in over 2 years. The index for nonagricultural industrial supplies and materials fell for the third consecutive month. The August drop was largely attributable to declining chemical and lumber prices.

The export indexes for finished goods were relatively stable for the second consecutive month.

Imports by Locality of Origin

The price index for imports from Japan reversed in August, falling 0.4 percent. The decline followed a 2.3 percent advance over the 3 previous months. The decrease this month paralleled the depreciation of the yen in July from historic highs versus the dollar in April.

Import prices from the European Union increased for the 8th consecutive month, gaining 0.2 percent in August. Over the past 12 months, the index has gained 6.1 percent.

The index for imports from Canada recorded a turnaround in August, increasing 0.6 percent after falling 0.2 percent in July. For the year ended in August, the index posted a 7.1 percent increase

Import prices from the Asian Newly Industrialized Countries edged down 0.1 percent in August after posting modest increases over the previous 3 months. Over the past year, the index has gained 1.0 percent.