November 2023 U.S. Import and Export Price Indexes — 2023-12-14

Prices for U.S. imports decreased 0.4 percent in November following a 0.6-percent decline the previous month, the U.S. Bureau of Labor Statistics reported today. Lower fuel prices in November more than offset an increase in nonfuel prices. U.S. export prices fell 0.9 percent for the second consecutive month in November. U.S. import prices decreased 0.4 percent in November and 0.6 percent in October, the first 1-month declines since June 2023. The October decrease was the largest 1-month decline since the index fell 0.8 percent in March 2023. Prices for U.S. imports fell 1.4 percent for the year ended in November. (See table 1.) Fuel Imports: The price index for import fuel declined 5.6 percent in November following a 3.7-percent drop in October. The November decrease was the largest monthly decline since the index fell 5.6 percent in February 2023. Lower petroleum prices in November more than offset higher natural gas prices.