Keeping you up to date on the latest data releases.
Import prices fell −0.9 percent in November after increasing 0.3 percent in October. November’s decrease came after three months of gains and was greater than the −0.5 percent decline predicted by the consensus forecast. Falling petroleum and nonpetroleum prices contributed to the overall decrease with the former driving the drop by falling −3.6 percent and the latter edging down −0.1 percent. On a year-over-year basis, petroleum prices fell −7.0 percent in November after falling 0.2 percent in October. Nonpetroleum prices remained unchanged compared to November 2011 ending a five month streak of year-over-year declines. After strong relatively strong reports in September and October, November’s report displays much of the weakness stemming from the global slowdown.
Export prices fell −0.7 percent after posting gains throughout the third quarter. On a year-over-year basis, export prices rose 0.7 percent marking the second consecutive month of gains.