November 2014 U.S. Import and Export Price Indexes — 2014-12-11

U.S. import prices declined 1.5 percent in November, after falling 1.2 percent in October, the U.S. Bureau of Labor Statistics reported today. Both decreases were driven by declining fuel prices. The price index for U.S. exports fell 1.0 percent in November following a 0.9-percent drop the previous month. All Imports: Prices for U.S. imports fell 1.5 percent in November, the largest monthly drop in import prices since a 2.3-percent decrease in June 2012. Led by lower fuel prices, overall import prices declined in each of the past 5 months, falling 4.2 percent over that period. The price index for imports fell 2.3 percent over the past 12 months, the largest year-over-year decline since a 2.7-percent decrease between April 2012 and April 2013. Fuel Imports: Fuel prices decreased 6.7 percent in November, after declining 6.0 percent in October. Those drops were the largest monthly decreases since the index fell 8.5 percent in June 2012.