December 15, 2006 (The Editor’s Desk is updated each business day.)

Import prices in November

The U.S. Import Price Index rose 0.2 percent in November 2006. The increase was led by a 0.7-percent advance in nonpetroleum prices, which more than offset a decline in the price index for petroleum.

[Chart data—TXT]

Petroleum prices fell a more modest 1.6 percent in November compared to the double-digit declines recorded in the prior two months. Despite the recent downturn, petroleum prices advanced 1.5 percent for the year ended in November. 

Nonpetroleum prices resumed an upward trend in November, following a 0.5-percent decline in October, rising 0.7 percent for the month and 1.3 percent over the past year. The index for overall imports increased 1.2 percent over the past 12 months.

A 2.9-percent increase in the price index for nonpetroleum industrial supplies and materials was the largest contributor to the higher nonpetroleum prices in November. That increase was largely attributable to a sharp upturn in natural gas prices.

Prices for exports increased 0.4 percent in November after falling 0.3 percent in October and 0.4 percent in September. The November increase resumed a year-long upward trend for the index, which advanced 3.9 percent over the past 12 months.

These data are from the BLS International Price program. Import and export price data are subject to revision. Learn more in "U.S. Import and Export Price Indexes - November 2006" (PDF) (TXT), news release USDL 06-2070.