The Bureau of labour Statistics released this chart today, showing the fall and rise of import and export price indices from October 2008 to October 2009.
As you can see, prices fell when the recession was in full swing last year, which is great, because when everyone’s poorer, falling prices are helpful. Well, were still pretty poor, but here come higher prices roaring back:
BLS: The price index for all imports rose 0.7 per cent in October, led by a 1.8 per cent increase in fuel prices. The rise followed a 0.2-per cent increase in September. The price index for all exports advanced 0.3 per cent in October after decreasing 0.2 per cent the previous month.
Export prices rose 0.3 per cent after falling 0.2 per cent in September. Rising nonagricultural prices more than offset a drop in the price index for agricultural exports. Prices of overall exports decreased 3.4 per cent for the October 2008–2009 period.