August 17, 2011 (The Editor’s Desk is updated each business day.)
Import and export prices, July 2011
Over the 12-month period from July 2010 to July 2011, import prices rose 14.0 percent, the largest 12-month advance since the index increased 18.1 percent for the year ended in August 2008.
[Chart data]
Higher prices for both fuel and nonfuel imports contributed to the increase over the past 12 months. Fuel prices rose 45.5 percent for the year ended in July, led by a 48.9-percent increase in petroleum prices over the same period. Prices for nonfuel imports increased 5.5 percent over the past 12 months, the largest year-over-year rise since a 6.1-percent advance between September 2007 and September 2008.
Overall export prices rose 9.8 percent over the past 12 months (July 2010–July 2011), down from the 10.1-percent change for the year ended in June, which was the largest year-over-year increase in export prices since a 10.2-percent advance between July 2007 and July 2008.
The price index for agricultural exports advanced 25.9 percent over the past 12 months, while nonagricultural prices rose 8.3 percent, the largest 12-month increase since the index was first published in 1985.
These data are from the BLS International Price program. Import and export price data are subject to revision. To learn more, see "U.S. Import and Export Price Indexes — July 2011" (HTML) (PDF), news release USDL-11-1227.
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