USA imports/exports prices increase on January 2014

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Washington DC, United States, February 14th, 2014.– The United States Bureau of Labor releases the statistics regarding the price indexes for imports and exports corresponding to January 2014.

 

U.S. import prices rose for the second consecutive month in January advancing 0.1%, after a 0.2% increase in December, the U.S. Bureau of Labor Statistics reported today. In January, higher nonfuel prices more than offset declining fuel prices. U.S. export prices also rose in January, increasing 0.2% following a 0.4% advance in December.

 

Import prices ticked up 0.1% in January following a 0.2% rise the previous month. The January advance was led by higher nonfuel prices, while the increase in December was driven by rising fuel prices. Despite the recent advances, prices for overall imports declined 1.5% for the year ended in January. Import prices have not recorded a year-over-year increase since a 0.9% rise between July 2012 and July 2013.

 

Fuel prices fell for the third time in the past 4 months in January, declining 0.6%, after a 1.3% advance in December. The January drop was led by a 1.2% decrease in petroleum prices, which more than offset a 14.1% increase in natural gas prices. Natural gas prices rose 67.3% over the past 4 months. Fuel prices also fell over the past year, declining 3.1%. The 12-month drop in fuel prices was driven by a 4% decrease in petroleum prices, while natural gas prices increased 26.7% over the same period.

Source: US Bureau of Labor Statistics

Source: US Bureau of Labor Statistics

The price index for nonfuel imports advanced 0.3% in January, after recording little movement the previous 4 months. The increase was the largest monthly rise in nonfuel import prices since a 0.4% increase in March 2012. In January, higher prices for consumer goods; capital goods; foods, feeds, and beverages; and nonfuel industrial supplies and materials contributed to the overall advance in nonfuel import prices. In contrast, automotive vehicle prices decreased in January. Despite the January increase, nonfuel import prices fell 1.1% over the past 12 months.

 

Export prices advanced for the third consecutive month in January, increasing 0.2%, after rising 0.4% in December and 0.2% in November. January marked the first time since October 2012 that export prices recorded 3 consecutive monthly advances. Despite the recent increase, overall export prices declined 1.2% for the year ended in January.

 

The price index for agricultural exports fell 0.5% in January following a 0.4% increase the previous month. The January drop was driven by lower prices for wheat, soybeans, and meat, which decreased 6.5%, 1.9%, and 2.2%, respectively. Agricultural prices declined 5.7% for the year ended in January, after rising 10.7% between January 2012 and January 2013. The year-over-year decline in January 2014 was led by lower prices for corn, soybeans, and wheat.

 

Nonagricultural prices rose 0.2% in January following a 0.5% increase in December. In January, higher prices for nonagricultural industrial supplies and materials, capital goods, and automotive vehicles contributed to the overall increase in nonagricultural export prices. The price index for nonagricultural exports fell 0.5% over the past year, driven by declining prices for nonagricultural industrial supplies and materials and consumer goods.

 

Mexican Business Web via USA Bureau of Labor 

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