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

No change in import prices in May

The U.S. Import Price Index was unchanged in May. The index increased 1.6 percent in April and 1.3 percent in March.

[Chart data—TXT]

The import price index in May was unchanged due to a modest rise in petroleum prices coupled with a slight decline in nonpetroleum prices. The petroleum index, which had posted double-digit increases over the previous two months, increased a modest 0.9 percent in May. Since December, the index has increased 46.1 percent. For the 12 months ended in May, however, petroleum prices were down 3.1 percent. 

Prices for nonpetroleum imports resumed a downward trend in May, decreasing 0.1 percent after rising 0.6 percent in April. April marked the only advance in nonpetroleum prices during the past 16 months. The index was down 3.0 percent for the year ended in May.

These data are a product of the BLS International Price program.  Learn more in U.S. Import and Export May 2002, (PDF) (TXT) news release USDL 02-337. Note: import price data are subject to revision in each of the three months after original publication.