Keeping you up to date on the latest data releases.
Import prices dropped 0.3 percent (nonannualized) in September following a 0.6 percent increase in August, and year-over-year growth slowed from 4.0 to 3.5 percent. Fuel prices drove September’s overall decline, falling 3.1 percent over the month with contributions from petroleum products (down 3.1 percent) and natural gas (down 4.4 percent). Import prices excluding fuel advanced 0.3 percent, leaving the series up 2.6 percent on a year-over-year basis.
Export prices, on the other hand, rose for a second consecutive month in September, growing 0.6 percent after a 0.8 percent advance in August. Year-over-year growth picked up steam from 4.2 percent to 5.0 percent. Both agricultural and nonagricultural exports contributed to September’s increase, growing 2.4 and 0.3 percent, respectively. Prices for food, feeds, and beverages were up 2.2 percent, consumer goods were up 1.0 percent, and industrial supplies and materials advanced 0.8 percent.