October Import Prices Fall More Than Expected At -0.6%

shipping containers in port on dock

Photo: AP

October import prices fell 0.6% month-over-month versus economists’ expectation for a 0.2% decline.Expectations ranged from a 1.0% decline to a 0.3% rise.

Export prices declined 2.1%

From the BLS:

All Imports: Import prices fell for the third time in five months in October, declining 0.6 per cent for the month. The decrease matched a 0.6 per cent decline in June, the largest one-month drop since the index fell 1.2 per cent in June 2010. The price index for overall imports fell 1.4 per cent over the past five months, primarily driven down over that period by declining fuel prices. Despite the recent decreases, import prices advanced 11.0 per cent over the past year.   

All Exports: Overall export prices fell 2.1 per cent in October, driven lower by falling prices for both nonagricultural and agricultural exports. The October decline followed advances of 0.4 per cent and 0.5 per cent the two previous months. Despite the October drop, overall export prices increased 6.3 per cent over the past year.

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