January 15, 2014
The price index for U.S. imports decreased 1.3 percent over the year in December 2013, following a 2.0-percent decline from December 2011 to December 2012. Despite rising in 3 of the last 4 months, the price index for U.S. exports in December 2013 fell 1.0 percent over the year after increasing 1.1 percent over the same period from 2011 to 2012.
Falling fuel and nonfuel prices contributed to the decline in overall import prices from December 2012 to December 2013. Over the year, fuel prices fell 1.7 percent in December 2013 following a 7.9-percent decrease from December 2011 to December 2012. In December 2013, the price index for nonfuel imports declined 1.2 percent over the year after recording no change over the same period from 2011 to 2012.
From December 2012 to December 2013, the price index for agricultural exports fell 6.3 percent following a 13.4-percent increase from December 2011 to December 2012. The decline in agricultural export prices over the past year was led by a 36.4-percent decline in corn prices, a 19.3-percent decrease in wheat prices, and an 8.9-percent fall in soybean prices. Despite a recent upturn, prices for nonagricultural exports in December 2013 fell 0.5 percent over the year after declining 0.3 percent from December 2011 to December 2012.
These data are from the BLS International Price program. To learn more, see “U.S. Import and Export Price Indexes — December 2013” (HTML) (PDF), news release USDL‑14‑0035. Import and export price indexes are subject to revision.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, U.S. import and export prices in 2013 on the Internet at http://www.bls.gov/opub/ted/2014/ted_20140115.htm (visited December 18, 2014).
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