U.S. All import prices slid 0.2% in June, the second consecutive decline driven by lower fuel prices. Although there was a recorded decline in June, U.S. imports increased 1.5% over the previous 12 months according to the Bureau of Labor Statistics (BLS). The price index for fuel imports declined for the fourth month in a row, falling by 2.1% in June. Notably, the index decreased by 4.6% over the previous 3 months. The drop in the index was attributed to a 2.2% contraction in petroleum prices. A fall of 0.1% in natural gas prices was also recorded for the period. In contrast to the decline, fuel prices over the last twelve months to June 2017 have advanced 6.3%. “The import price index for petroleum increased 4.5% over the past year and natural gas prices rose 58.6%,” as indicated by the BLS.
The prices for non-fuel imports reflected an increase of 0.1% in June following no change in May. The last decline recorded was in January (0.1%). The performance of higher import prices for foods, feeds, and beverages and capital goods offset the lower prices for automotive vehicles, consumer goods, and non-fuel industrial supplies and materials. The point to point prices for non-fuel imports advanced 1.0% due to rising prices for non-fuel industrial supplies and materials and foods, feeds, and beverages more than offset decreasing prices for capital goods and automotive vehicles over the 12-month period ended in June.
The prices for U.S. exports slid 0.2% in June, registering a decline for the second consecutive month. Falling prices in agricultural exports drove the decrease as non-agricultural export prices recorded no change. Notably, U.S. export prices rose over the past year by 0.6%. the price index for agricultural exports declined 1.5% in June subsequent to a 1.6% drop in May. The decline in the index resulted from falling prices for vegetables, soybeans, and fruit, “more than offsetting higher prices for meat,” according to the BLS. Additionally, non-agricultural exports prices reflected no change in June subsequent to a 0.4% fall in May. The advancing prices for non-agricultural industrial supplies and materials and consumer goods were mitigated by decreasing prices for automotive vehicles. According to the Bureau of Labor Statistics, “The price index for non-agricultural exports increased 1.1% over the past 12 months as higher prices for non-agricultural industrial supplies and materials and capital goods more than offset falling prices for consumer goods.”
Disclaimer:
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.
