Recent Updates

  • ** New Zealand's jobs online report has been delayed by the source, MBIE, until 6:00 PM ET 4/26.**
  • New Zealand: Foreign Currency Assets & Liabilities & Currency Flows (Mar); Australia: Labor Force Survey (Mar), Import/Export Price Indexes, SME Business Survey (Q1), Cash Flow Statements, Government Finance Statistics (2017)
  • Japan: Input Output Prices, Lease Contracts (Mar), First 10 Days Trade (Apr), International Trade (Mar-Final)
  • Brunei: International Trade (Dec); Korea: GDP (Q1); China:
  • more updates...

Economy in Brief

U.S. Import & Export Prices Increase
by Tom Moeller  March 15, 2018

Import prices rose 0.4% (3.5% y/y) during February following a 0.8% January gain, revised from 1.0%. A 0.3% rise had been expected in the Action Economics Forecast Survey. These figures are not seasonally adjusted

Petroleum import prices eased 0.5% (+18.3% y/y) following three straight months of strong increase. Nonpetroleum import prices strengthened 0.5% (2.1% y/y) for the second consecutive month. Amongst end-use categories, industrial supplies and materials prices excluding petroleum increased 0.7% (8.4% y/y) after a 2.1% rise. Among other detail categories, prices of foods, feeds and beverages rose 1.1% (3.5% y/y), the strongest gain since September. Capital goods prices increased 0.6%. Year-to-year growth picked up to 1.2% following declines in each of the prior five years. Capital goods prices excluding computers, semiconductors & peripherals rose 0.5% and increased 1.2% y/y after five years of decline. Prices of motor vehicles and parts improved 0.2% (0.7% y/y) following a 0.5% rise. Prices of consumer goods excluding automobiles increased 0.5% (0.2% y/y) after a 0.1% uptick.

Export prices increased 0.2% (3.3% y/y) following a 0.8% increase. The Action Economics Forecast Survey expected a 0.3% rise for February.

Agricultural export prices increased 0.6% (0.8% y/y) following declines in two of the prior three months. Nonagricultural export prices rose 0.2% (3.6% y/y) after a 0.8% jump. Amongst the end-use categories, overall foods, feeds and beverage prices rebounded 0.7% (0.8% y/y) following three months of decline. Prices of industrial supplies and materials improved 0.3% (7.5% y/y) after 2.0% gains in two of the prior three months, as petroleum prices rose 0.3% (18.7 y/y). Nonagricultural supplies and materials prices excluding fuels and building materials strengthened 1.0% (4.9% y/y) after a 1.1% gain. Non-auto consumer goods prices rose 0.3% after a 0.5% gain. The y/y rise of 2.4% contrasts with price deflation back through 2003. Prices of motor vehicles and parts inched 0.1% higher (0.6% y/y) following a 0.4% rise. Capital goods prices also rose 0.1% (1.6% y/y) after a 0.3% increase. Capital goods prices excluding computers, peripherals & semiconductors improved 0.2% (1.5% y/y) for the third straight month. Auto export prices ticked 0.1% higher (0.6% y/y) after a 0.4% rise. 

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.

Import/Export Prices (NSA, %) Feb Jan Dec  Y/Y 2017 2016 2015
Imports - All Commodities 0.4  0.8 0.2 3.5 2.9 -3.3 -10.2
  Petroleum -0.5 3.0 2.8 18.3 26.6 -19.7 -46.0
  Nonpetroleum 0.5 0.5 -0.1 2.1 1.1 -1.5 -2.8
Exports - All Commodities 0.2 0.8 0.1 3.3 2.4 -3.2 -6.3
  Agricultural 0.6 0.1 -0.3 0.8 1.5 -5.4 -13.3
  Nonagricultural 0.2 0.8 0.1 3.6 2.5 -3.0 -5.5
close
large image