August 2012 U.S. Import and Export Price Indexes — 2012-09-12

U.S. import prices rose 0.7 percent in August, the U.S. Bureau of Labor Statistics reported today, after declining 0.7 percent the previous month. The August increase was the first advance in overall import prices since a 1.4 percent rise in March. Export prices also increased in August, rising 0.9 percent following a 0.4 percent advance in July. All Imports: Import prices rose 0.7 percent in August, the first monthly increase since March. The August advance followed a 4.4 percent decline over the previous four months. In August, higher fuel prices more than offset a decrease in the price index for nonfuel imports. Despite the August increase, import prices decreased 2.2 percent over the past year. In contrast, import prices had increased 12.9 percent between August 2010 and August 2011. Fuel Imports: Prices for imported fuel advanced 4.1 percent in August following declines in each of the four previous months.