Date: September 13, 2019
August’s import prices declined 0.5%, according to the U.S. Bureau of Labor Statistics after rising 0.1% the previous month. This decrease was mostly attributable to the falling prices in fuel imports while nonfuel goods remained unchanged. Nonetheless, export prices fell 0.6% in August relative to a 0.2% increase the previous month..
Prices for import fuel dropped 4.3% in August, relative to a 0.7% rise the month before. In August, lower petroleum prices more than tempered higher prices for natural gas. The price index for import petroleum fell 4.8%, after increasing 0.9% the previous month. Prices for nonfuel imports were unchanged in August following 0.3% decreases in both June and May. Furthermore, according to BLS, “in August, lower prices for foods, feeds, and beverages and nonfuel industrial supplies and materials were offset by price increases for automotive vehicles and consumer goods.”
Exports prices declined 0.6% in August, after a 0.2% rise the previous month. The drop was attributable to price decreases for both agricultural and non-agricultural exports. Agricultural exports price index declined 2.5% in August, after rising 0.2% in July and 2.4% in June. The decline was traced back to lower prices for vegetables, corn, soybeans, cotton, meat, and wheat. Despite the monthly drop, prices for agricultural exports rose 0.5 percent over the past year. Non-agricultural export prices fell 0.4% in August following a 0.2% climb in July. Prices for nonagricultural exports fell 1.6 percent for the year ended in August; lower prices for non-agricultural industrial supplies and materials more than offset price increases for finished goods over the 12-month period.
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.