Price indexes for imports from EU & Canada up in Jan

16 Feb '08

4 min read

Over the past 12 months, the price index for agricultural exports rose 28.9 percent. Nonagricultural prices also increased in January, rising 0.8 percent following a 0.3 percent advance in December. The index rose 4.8 percent over the past year. A 2.2 percent increase in the price index for nonagricultural industrial supplies and materials was the main contributor to the January advance.

Higher prices for chemicals and steelmaking materials led the advance. For the year ended in January, nonagricultural industrial supplies and materials prices rose 12.0 percent. Prices for capital goods and automotive vehicles also increased in January, advancing 0.2 percent and 0.1 percent, respectively.

For the January 2007-2008 period, capital goods prices rose 1.5 percent while the price index for automotive vehicles increased 1.0 percent. In contrast, the price index for export consumer goods prices edged down 0.1 percent for the month.

Imports by Locality of Origin:
Prices for imports from China rose for the ninth consecutive month in January, increasing 0.8 percent, the largest monthly advance since the index was first published in December 2003. Import prices from China increased 3.3 percent over the past year after falling 0.9 percent from January 2005-2006.

Price indexes for imports from the European Union and from Canada increased in January, rising 1.1 percent and 0.1 percent, respectively. Higher fuel prices contributed to the increases. For the year ended in January, import prices from the European Union rose 4.1 percent while import prices from Canada rose 11.3 percent.

Prices for imports from Mexico and from Japan also advanced in January, rising 2.8 percent and 0.1 percent, respectively. Rising petroleum prices led the advance in prices for imports from Mexico, which increased 19.9 percent over the past year. The price index for imports from Japan edged up 0.2 percent over the past 12 months, the first 12-month advance in the index since October 2005.

Import and Export Services:
Import air passenger fares fell 2.1 percent in January after increasing 5.5 percent in December. The January decrease was led by an 11.2 percent drop in Asian fares. Over the past year, import air passenger fares increased 7.8 percent. Export air passenger fares increased in January, rising 7.9 percent. The index advanced 18.6 percent over the past year.

Prices for import air freight edged down 0.1 percent in January following a 3.0 percent advance the previous month. Lower air freight prices from Asia more than offset higher prices from Europe. Overall import air freight prices rose 7.6 percent for the year ended in January. The price index for export air freight rose 3.0 percent in January and 11.5 percent over the past 12 months.

U.S. Department of Labor

More US Department of Labor News... More Textiles News - United States Of America...