Keeping you up to date on the latest data releases.
- Import and Export Prices
Import prices fell 0.6 percent (nonannualized) in May, the largest drop since January 2009, following a 1.1 percent increase in April. After four straight months of sitting above 11 percent, the series’ 12-month growth rate is now at its December 2009 level of 8.6 percent. The decline is largely due to a 5.0 percent drop in petroleum prices, the largest decrease since December 2008, as nonpetroleum import prices rose 0.5 percent for the second month in a row. On a year-over-year basis, nonpetroleum import prices are in positive territory for the fifth straight month, climbing 3.7 percent. Export prices rose 0.7 percent in April, the smallest of three consecutive increases, pulling the 12-month growth rate up to 5.8 percent. The increase was largely due to a 1.9 percent climb in industrial supplies and materials prices.