Pree Release - U.S. IMPORT AND EXPORT PRICE INDEXES – MAY 2016
Prices for U.S. imports increased 1.4 percent in May, following advances of 0.7 percent in April and 0.4 percent in March, the U.S. Bureau of Labor Statistics reported today. The May rise was primarily driven by higher fuel prices, although nonfuel prices also increased. U.S. export prices advanced 1.1 percent in May, after rising 0.5 percent the previous month.
All Imports: Import prices rose for the third consecutive month in May, rising 1.4 percent, after recording 0.7-percent and 0.4-percent increases in April and March. The May advance was the largest monthly rise since the index increased 1.4 percent in March 2012. The last 1-month gain larger than 1.4 percent was a 2.6-percent advance in April 2011. Despite the recent increases, import prices declined 5.0 percent over the past 12 months, driven by decreases over the second half of 2015 and the first 2 months of 2016.
Fuel Imports: The price index for import fuel increased 16.2 percent in May, following a 9.4-percent advance in April and an 8.4-percent rise in March. The May increase was the largest monthly jump in fuel prices since the index rose 17.3 percent in April 1999 and the second largest 1-month advance since the index was first published monthly in October 1992. A 17.4-percent increase in petroleum prices led the May rise in fuel prices, although natural gas prices also rose, up 2.5 percent for the month.
Prices for imported fuel continued to decrease on a 12-month basis, falling 28.8 percent between May 2015 and May 2016. Petroleum prices declined 29.1 percent for the year ended in May, and natural gas prices decreased 38.4 percent over the same period.
page source http://www.bls.gov/
