Export Goods
Export prices increased 0.3 percent in November, led by higher prices for nonagricultural exports. Nonagricultural prices, up 0.4 percent in November, rose in all but one month over the past year and were up 5.4 percent over that period, compared to a 0.8 percent increase for the previous 12 months. In contrast, agricultural prices fell for the fifth time in the past six months, declining 0.1 percent in November following a 1.3 percent drop the prior month. Over the past year, agricultural prices were down 5.2 percent. For the year ended in November, overall export prices increased 4.3 percent.The increase in nonagricultural prices was led by a 1.0 percent increase in the price index for nonagricultural industrial supplies and materials. Higher prices for metals and chemicals more than offset lower fuel prices. Nonagricultural industrial supplies and materials prices have trended upward for the past year and were up 17.4 percent over that period.
Prices for finished goods were modestly up or unchanged in November. The price indexes for capital goods and for consumer goods each rose 0.1 percent in November. Capital goods prices increased for the third consecutive month despite lower computer prices. The increase in consumer prices followed declines over the prior two months. For the year ended in November, capital goods prices and consumer goods prices were up 1.1 percent and 0.9 percent, respectively. The price index for automotive vehicles was unchanged in November after rising 0.3 percent the previous month. Over the past year, automotive vehicle prices were up 0.9 percent.
imports by Locality of Origin
The price index for imports from Japan was up 0.1 percent in November after a 0.2 percent increase the previous month. Over the past year, import prices from Japan were up 1.5 percent.Prices of imports from the Asian Newly Industrialized Countries were unchanged for the second consecutive month. The index was up a modest 0.1 percent for the year ended in November.
Import prices from Canada and from the European Union were each up in November, rising 1.0 percent and 0.2 percent, respectively. Over the past 12 months, import prices from Canada were up 12.0 percent and prices of imports from the European Union rose 6.7 percent.
The price index for imports from Latin America was up 0.2 percent in November as higher prices for manufactured goods offset a decline in petroleum prices. Import prices from Latin America were up 18.1 percent for the year ended in November.
Import and Export Services
Import air passenger fares declined 4.0 percent in November, primarily attributable to a 5.7 percent decrease in European fares. November was the fourth consecutive month that import air passenger fares were down; however, the index was up 4.5 percent over the past year. Export air passenger fares were up 1.6 percent in November following decreases in the prior two months. The index was up 9.5 percent over the past 12 months.---
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