August 2014 U.S. Import and Export Price Indexes — 2014-09-12

Prices for U.S. imports decreased 0.9 percent in August following a 0.3-percent decline in July, the U.S. Bureau of Labor Statistics reported today. Both the August and July drops in overall import prices were driven by lower fuel prices. U.S. export prices declined 0.5 percent in August, after ticking up 0.1 percent the previous month. All Imports: Prices for overall imports declined 0.9 percent in August, the largest monthly drop in import prices since a 0.9-percent decrease in November 2013; those were the largest declines since a 2.3-percent drop in June 2012. The August 2014 decrease resulted from lower fuel prices which more than offset a 0.1- percent increase in nonfuel prices. The price index for overall imports fell 0.4 percent for the year ended in August, the first 12-month decline since a 0.4-percent decrease in April. Fuel Imports: Import fuel prices fell 4.6 percent in August following a 1.7-percent decline in July.