July 15, 2008 (The Editor’s Desk is updated each business day.)
Export prices in June 2008
Export prices increased 1.0 percent in June and 8.6 percent over the past year, the largest 12-month increase since September 1988.
The price indexes for agricultural exports and nonagricultural exports each contributed to the overall increase in June export prices, moving up 2.2 percent and 0.9 percent, respectively. The increase in agricultural prices followed a 0.2-percent rise in May and was driven by higher prices for soybeans, corn, meat, and fruit which more than offset declines in wheat and vegetable prices.
Agricultural prices rose 33.0 percent over the June 2007-2008 period. Nonagricultural prices also increased over the past 12 months, rising 6.4 percent.
The June advance in nonagricultural prices was led by a rise in prices for nonagricultural industrial supplies and materials which increased 2.1 percent in June after advancing 0.9 percent in May. The index rose 15.6 percent over the past year. The June increase was primarily driven by rising fuel prices, although higher prices for inorganic chemicals and plastics also contributed to the advance.
These data are from the BLS International Price program. Export price data are subject to revision. Learn more in "U.S. Import and Export Price Indexes -- June 2008," (PDF) (HTML) news release USDL 08-0943.
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