Keeping you up to date on the latest data releases.
Import prices jumped 1.3 percent in November, marking a fourth consecutive increase and the largest since November 2009. Petroleum imports rose in excess of 4.0 percent for a second straight month, and nonfuel import prices advanced 0.8 percent. Although growth in import prices has picked up pace recently and prices are up 3.7 percent on a year-over-year basis, the index is still considerably below its July 2008 peak (by roughly 13 percent).
Export prices also took off in November, jumping 1.5 percent and lifting year-over-year growth from 5.8 percent to 6.5 percent. The most notable increases occurred in foods, feeds and beverages, which rose a steep 6.6 percent in November and have climbed nearly 16 percent in just the past six months. Additionally, agricultural exports saw their largest price increase on record, soaring 8.0 percent over the month.