November 1995 U.S. Import and Export Price Indexes

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-NOVEMBER 1995-

The U.S. Import Price Index rose 0.2 percent in November, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The increase followed a 0.4 percent decrease in October. The U.S. Export Price Index fell 0.2 percent in November, after advancing 0.1 percent in each of the previous 2 months.

Import Goods

Petroleum import prices increased for the second time in 3 months, up 0.9 percent in November; however, the index has declined 10.6 percent since May. Fuel prices basically were unchanged from a year ago despite volatile monthly fluctuations.

Nonpetroleum imports also advanced in November, edging up 0.1 percent after falling 0.3 percent in October and 0.2 percent in September. Contributing to the November price increase for nonpetroleum imports was a 0.4 percent rise in prices for capital goods, a marked turnaround from the 0.6 percent and 0.7 percent declines posted in October and September, respectively. Other import indexes recording gains in November after declining for at least 2 consecutive months were the index for food, feeds, and beverages, up 0.3 percent, and the consumer goods index, edging up 0.1 percent. Automotive prices were unchanged in November after advancing 0.3 percent in both October and September.

In contrast, the import price index for industrial supplies and materials excluding petroleum fell 0.4 percent in November. The decline was largely attributable to price decreases for metals and selected building materials.

Export Goods

Agricultural export prices rose 2.2 percent in November after increasing 1.9 percent in October and 3.0 percent in September. For the year ended in November 1995, the index increased 19.1 percent after having increased only 0.3 percent in the November 1993-94 period.

In contrast, the price index for nonagricultural exports fell for the fifth consecutive month, declining 0.5 percent in November. The decrease was led by a continuing decline in the index for export industrial supplies and materials which fell 1.2 percent in November and an average of 1.0 percent over the previous 4 months.

Each of the export price indexes for finished goods posted little or no change in November. The index for capital goods was unchanged in November after falling 0.1 percent in the previous month. Both the automotive vehicles and consumer goods indexes rose 0.2 percent in November after recording gains in October of 1.0 percent and 0.1 percent, respectively.

Imports by Locality of Origin

Import prices from Japan rose 0.3 percent in November, after decreasing on average 0.6 percent over the previous 3 months. For the year ended in November, the index was up 3.4 percent.

The import price index for Canada also turned around in November, gaining a modest 0.1 percent after falling 0.5 percent in October. Over the past 12 months, import prices from Canada rose 4.8 percent.

Prices of goods imported from the European Union rose 0.7 percent in November after remaining relatively unchanged over the previous 3 months. Import prices from the European Union rose 4.3 percent over the past 12 months.

Import prices from the Asian Newly Industrialized countries were unchanged in November and advanced 1.2 percent over the past year.