December 13, 2007 (The Editor’s Desk is updated each business day.)

Import prices in November

The U.S. Import Price Index increased 2.7 percent in November 2007.

[Chart data—TXT]

The increase was the largest monthly advance since October 1990 and was led by a 9.8-percent rise in petroleum prices. 

Over the past 12 months, the price index for petroleum imports was up 53.0 percent, while overall import prices increased 11.4 percent, the largest annual advance since the index was first published in September 1982.

While the rise in petroleum prices was the largest contributor to the November increase, nonpetroleum prices also advanced, rising 0.7 percent. The increase in nonpetroleum prices in November followed a 0.5-percent rise in October. Nonpetroleum prices advanced 3.0 percent over the past year.

These data are from the BLS International Price program. Import price data are subject to revision. Learn more in "U.S. Import and Export Price Indexes -- November 2007" (PDF) (TXT), news release USDL 07-1884.