October 2013 U.S. Import and Export Price Indexes — 2013-11-15

U.S. import prices declined 0.7 percent in October, the U.S. Bureau of Labor Statistics reported today, led by lower fuel prices. The October decrease in overall import prices followed comparatively modest advances in each of the previous 3 months. Prices for U.S. exports fell 0.5 percent in October, after a 0.4 percent increase the previous month. All Imports: Prices for overall imports declined 0.7 percent in October, after ticking up between 0.1 percent and 0.2 percent in each of the previous 3 months. The October drop was driven by lower fuel prices as nonfuel import prices were unchanged. Import prices decreased 2.0 percent for the year ended in October, the largest 12-month drop since a 2.7 percent decline between April 2012 and April 2013. Fuel Imports: Import fuel prices fell 3.4 percent in October, the largest monthly decline since an 8.5 percent decrease in June 2012.