USA ... The price index for U.S. imports rose 0.3 percent in April following a 0.3-percent increase in March ..BLS

8:30 a.m. (EDT) Thursday, May 12, 2016         Press Release

U.S. IMPORT AND EXPORT PRICE INDEXES – APRIL 2016 

The price index for U.S. imports rose 0.3 percent in April following a 0.3-percent increase in March, the U.S. Bureau of Labor Statistics reported today. The increases in both April and March were led by higher fuel prices. U.S. export prices increased 0.5 percent in April, after recording no change the previous month. Both agricultural and nonagricultural export prices contributed to the April advance. 

All Imports: The consecutive 0.3-percent increases in April and March were the first monthly advances since the index ticked up 0.1 percent in June 2015 and the largest increases since a 1.1-percent rise in May 2015. Higher fuel prices drove the April advance although nonfuel prices also contributed to the overall increase in import prices. Import prices declined 5.7 percent over the past year, the smallest over-the-year drop since the index fell 5.6 percent in December 2014. 

Fuel Imports: Prices for fuel imports advanced 3.3 percent in April following a 7.6-percent rise in March. The increases were the first monthly advances since the index rose 1.5 percent in June 2015 and the largest 1-month increases since a 10.8-percent advance in May 2015. The April rise was driven by a 4.1-percent advance in petroleum prices which more than offset a 10.5-percent drop in natural gas prices. Despite the recent increases, the price index for import fuel declined 36.4 percent over the past 12 months. A 37.4- percent decrease in petroleum prices and a 38.9-percent drop in natural gas prices both contributed to the overall fall in import fuel prices for the year ended in April. 

All Imports Excluding Fuel: Nonfuel import prices rose 0.1 percent, the first monthly advance since the index ticked up 0.1 percent in July 2014. The last time nonfuel import prices advanced by more than 0.1 percent was a 0.3-percent increase in March 2014. In April, higher prices for nonfuel industrial supplies and materials; foods, feeds, and beverages; and automotive vehicles more than offset falling consumer goods and capital goods prices. Despite the April increase, nonfuel import prices fell 2.0 percent between April 2015 and April 2016.

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