December 13, 2002 (The Editor’s Desk is updated each business day.)

Import prices down in November

The U.S. Import Price Index decreased 1.0 percent in November, after showing no change in October. The decline was attributable to falling petroleum prices.

[Chart data—TXT]

Led by a decline in petroleum prices, the index for all imports fell 1.0 percent in November – the first monthly decline since June and the second decrease in 2002. The petroleum index, which had increased in 9 of the previous 10 months, declined 10.0 percent in November. Last month’s decrease was the largest since the index dropped 13.1 percent in November 2001. In contrast, the price index for nonpetroleum imports edged up 0.1 percent in November, after dipping 0.1 percent in October.

The Export Price Index rose 0.1 percent in November, after decreasing the same amount in the previous month.

These data are a product of the BLS International Price program. Learn more in "U.S. Import and Export Price Indexes - November 2002" (PDF) (TXT), news release USDL 02-675.