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Import prices remained unchanged in August after ticking up 0.1 percent in July. Petroleum prices rose 0.8 percent while nonpetroleum prices fell −0.2 percent. August marks the fourth consecutive month of nonpetroleum price declines. On a year-over-year basis, import prices fell −0.4 percent after rising 0.9 percent in July. On a yearly basis, import prices fell in eight of the past ten months. Petroleum prices rose 1.9 percent, relative to last year after increasing 7.5 percent in July. With continued weakness in nonpetroleum prices and strength in petroleum prices, August’s report is largely similar to July’s.
Export prices fell −0.5 percent in August, marking six months of consecutive declines. On a year-over-year basis, export prices decreased −1.1 percent after rising 0.3 percent in July.