September 12, 2005 (The Editor’s Desk is updated each business day.)

Import prices up again in August 2005

The price index for U.S. imports increased 1.3 percent in August. Rising petroleum prices led the increase for the third consecutive month.

[Chart data—TXT]

Following the pattern of the prior two months, the August increase was driven by higher petroleum prices, which rose 7.1 percent. August marked the third consecutive month that the price index for petroleum imports recorded its highest level since the index was first published in 1982. Petroleum prices rose 42.5 percent over the past 12 months.

Nonpetroleum prices were unchanged in August after decreasing 0.2 percent in each of the three preceding months. Despite those recent declines, nonpetroleum prices increased 1.8 percent for the year ended in August.

Prices of exports declined for the third time in the past four months, edging down 0.1 percent in August. Prices for both agricultural and nonagricultural exports contributed to the August decline, decreasing 0.6 percent and 0.1 percent, respectively.

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 - August 2005" (PDF) (TXT), news release USDL 05-1676. Note: Hurricane Katrina struck Florida and the Gulf Coast after the August survey reference period and therefore did not affect the August import and export price indexes.