US November import prices -0.4% vs -0.8% estimate

<ul><li><a href="https://www.forexlive.com/news/us-october-import-prices-08-vs-03-expected-20231116/" target="_blank" rel="follow">Prior month</a> import prices -0.8%. Export prices prior month -1.1%</li><li>Import prices -0.4% vs -0.8% expected</li><li>Export prices -0.9% vs -1.0% expected</li><li>Import prices YoY -1.4% vs -1.8% last month (revised from -2.0%)</li></ul><p>From the BLS press release (detailed view):</p><p>IMPORT PRICES: </p><ul><li><p>Overall U.S. Import Prices: Decreased by 0.4% in November and 0.6% in October, marking the first monthly declines since June 2023. The largest decline within this period was 0.8% in March 2023. Yearly, there was a 1.4% fall in import prices up to November.</p></li><li><p>Fuel Imports:</p><ul><li>Declined by 5.6% in November and 3.7% in October.</li><li>Largest monthly decrease was in November, similar to February 2023.</li><li>Import petroleum prices dropped 7.1% in November, the most significant one-month decrease since August 2022.</li><li>Natural gas prices increased by 38.3% in November, the largest one-month rise since December 2022.</li><li>Overall, import fuel prices fell 10.3% over the past 12 months, with petroleum prices down 9.2% and natural gas prices down 34.8%.</li></ul></li><li><p>All Imports Excluding Fuel:</p><ul><li>Prices rose 0.2% in November after declining 0.2% for three consecutive previous months.</li><li>This increase was the first since February 2023.</li><li>Over the past year, nonfuel import prices declined by 0.4%.</li></ul></li><li><p>Foods, Feeds, and Beverages:</p><ul><li>Prices increased by 0.9% in November, after decreases in October (0.5%) and September (0.3%).</li><li>The rise in prices for vegetables and fruit outweighed the decline in prices for fish, shellfish, and meat.</li></ul></li><li><p>Nonfuel Industrial Supplies and Materials:</p><ul><li>Prices rose by 0.2% in November, recovering from a 0.6% decline in the previous month.</li><li>This increase was driven by higher prices for nonmonetary gold.</li></ul></li><li><p>Finished Goods:</p><ul><li>Prices for major finished goods import categories remained mostly unchanged in November.</li><li>Automotive vehicles prices slightly decreased by 0.1% in November.</li><li>The price index for capital goods and consumer goods remained unchanged in November.</li></ul></li></ul><p>EXPORT PRICES</p><ul><li><p>Overall U.S. Export Prices:</p><ul><li>Decreased by 0.9% in both November and the preceding month.</li><li>Experienced a 5.2% decline over the 12 months from November 2022 to November 2023.</li></ul></li><li><p>Agricultural Exports:</p><ul><li>Prices increased by 0.2% in November, following a 4.1% decline over the previous three months.</li><li>Increases in fruit and soybeans prices offset declines in corn, meat, and other foods.</li><li>Yearly, there was a 10.5% decrease, the largest 12-month drop since March 2015 to March 2016.</li></ul></li><li><p>All Exports Excluding Agriculture:</p><ul><li>Nonagricultural export prices decreased by 1.0% for the second consecutive month in November.</li><li>Followed a 2.7% increase in the third quarter of 2023.</li><li>Yearly decline of 4.5% up to November.</li></ul></li><li><p>Nonagricultural Industrial Supplies and Materials:</p><ul><li>Prices fell 2.2% in November, continuing from a 2.4% decrease in the previous month.</li><li>Declines driven by lower fuel prices, which decreased 5.1% in November and 4.3% in October.</li><li>The November drop in fuel prices was the most significant since May 2023.</li></ul></li><li><p>Finished Goods:</p><ul><li>Prices for all major finished goods export categories declined in November.</li><li>Consumer goods prices decreased by 0.2% after a 0.4% drop in October.</li><li>Capital goods prices edged down 0.1% in November, the first monthly decline since November 2022.</li><li>Automotive vehicles prices also decreased by 0.1% in November, the first decline since April 2023, mainly due to lower prices for parts, engines, bodies, and chassis.</li></ul></li></ul>

This article was written by Greg Michalowski at www.forexlive.com.