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Economy in Brief
German PPI Accelerates
The German year-on-year PPI has generally been decelerating since early 2017...
U.S. Leading Economic Indicators Signal Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.3% during March...
Philadelphia Fed Factory Conditions Improve; Prices Jump
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index rose to 23.2 during April...
U.S. Initial Claims for Unemployment Insurance Are Little Changed
Initial unemployment insurance claims slipped to 232,000 (-6.1% y/y) during the week ended April 14...
U.K. Retail Sales Fall
U.K. GDP is expected to cool its jets when the first quarter GDP number is released...
by Tom Moeller July 13, 2016
Import prices rose 0.2% (-4.8% y/y) during June following a 1.4% surge in May. It was the smallest increase since a decline in February and fell short of expectations for a 0.5% rise in the Action Economics Forecast Survey. These figures are not seasonally adjusted.
A 6.4% rise in petroleum import prices (-26.6% y/y) was the smallest rise in four months. Nonpetroleum import prices declined 0.3% (-2.0% y/y) after a 0.4% rise. Nonoil industrial supplies & materials costs eased 0.1% (-6.1% y/y) following a 1.5% surge. Foods, feeds & beverage costs declined 1.3% (-2.5% y/y). Motor vehicle & parts prices remained unchanged (-0.4% y/y). Nonauto consumer goods prices fell 0.2% (-0.5% y/y) and reversed May's increase. Capital goods prices fell 0.3% (-2.1y/y) after remaining unchanged. Capital goods prices excluding computers, peripherals & semiconductors eased 0.1% (-1.6% y/y).
Export prices increased 0.8% (-3.5% y/y) following a 1.2% jump, revised from 1.1%. A 0.4% increase had been expected.
Agricultural commodity prices surged 2.4% (-1.4% y/y) after a 2.9% increase. Nonagricultural commodity prices improved 0.5% (-3.8% y/y) following a 1.0% increase. Foods, feeds & beverage prices strengthened 2.5% (-0.4% y/y) following a 3.0% gain. Industrial supplies & materials costs also jumped 2.1% (-9.6% y/y) after a 3.0% rise. Nonauto consumer goods prices eased 0.4% (-2.6% y/y) after a 0.2% increase. Capital goods prices ticked 0.1% higher (-0.3% y/y) following no change. Motor vehicle & parts prices remained unchanged (-0.8% y/y) for the third straight month.
The import and export price series can be found in Haver's USECON database. Detailed figures are available in the USINT database. The expectations figure from the Action Economics Forecast Survey is in the AS1REPNA database.
The latest Beige Book from the Federal Reserve covering regional economic conditions can be found here.
Import/Export Prices (NSA, %) | Jun | May | Apr | Jun Y/Y | 2015 | 2014 | 2013 |
---|---|---|---|---|---|---|---|
Imports - All Commodities | 0.2 | 1.4 | 0.7 | -4.8 | -10.2 | -1.1 | -1.1 |
Petroleum | 6.4 | 16.3 | 10.6 | -26.6 | -46.0 | -5.6 | -2.6 |
Nonpetroleum | -0.3 | 0.4 | 0.1 | -2.0 | -2.8 | 0.1 | -0.6 |
Exports - All Commodities | 0.8 | 1.2 | 0.4 | -3.5 | -6.3 | -0.5 | -0.4 |
Agricultural | 2.4 | 2.9 | 0.8 | -1.4 | -13.3 | -2.7 | 1.6 |
Nonagricultural | 0.5 | 1.0 | 0.4 | -3.8 | -5.5 | -0.3 | -0.7 |