U.S. Import and Export Price Indexes summary

U.S. import prices decreased 0.6 percent in March following a 0.2-percent decline in February, the U.S. Bureau of Labor Statistics reported today. Lower prices for fuel and nonfuel imports each contributed to the March drop in U.S. import prices. Prices for U.S. exports fell 0.3 percent in March, after increasing 0.4 percent in February and 0.3 percent in January.Imports Prices for U.S. imports fell 0.6 percent in March, the largest 1-month decline since November 2022. The price index for U.S. imports decreased 4.6 percent over the past year, the largest 12-month drop since the index declined 6.3 percent in May 2020. (See table 1.)Fuel Imports: Import fuel prices declined 2.9 percent in March following a 5.7-percent drop the previous month. Prices for import fuel have not recorded a 1-month advance since June 2022. Lower prices for both petroleum and natural gas contributed to the decrease in overall fuel prices in March. Import fuel prices decreased 27.9 percent for the year ended in March. Petroleum prices fell 1.2 percent in March, after declining 0.2 percent in February. Prices for import petroleum declined 28.6 percent over the past 12 months, the largest over-the-year decrease since September 2020. Natural gas prices declined 31.3 percent in March following a 49.9-percent drop in February. Prices for natural gas decreased 28.3 percent over the past year, the largest 12-month decline since March 2020.   All Imports Excluding Fuel: The price index for nonfuel imports decreased 0.5 percent in March, after rising 0.9 percent over the previous 3 months. The decline is the largest monthly drop since July 2022. Lower March prices for nonfuel industrial supplies and materials; consumer goods; foods, feeds, and beverages; capital goods; and automotive vehicles all contributed to the overall decrease in nonfuel import prices. Nonfuel import prices declined 1.5 percent from March 2022 to March 2023, the first 12-month drop since June 2020.  Foods, Feeds, and Beverages: Foods, feeds, and beverages prices decreased 0.5 percent in March, the first 1-month decline since a 1.0-percent drop in October 2022. Lower fruit prices in March more than offset higher prices for vegetables and meat.Nonfuel Industrial Supplies and Materials: Prices for nonfuel industrial supplies and materials fell 1.5 percent in March, after edging up 0.1 percent the previous month. Lower prices for unfinished metals and chemicals drove the decrease in March.  Finished Goods: Import prices decreased for each of the major finished goods categories in March. The price index for consumer goods declined 0.3 percent, the largest monthly drop since June 2022. Consumer goods prices also fell 0.3 percent over the past 12 months, the first over-the-year drop since July 2020.  Prices for import capital goods edged down 0.1 percent in March, led by a 2.3-percent decline in computer accessories, peripherals, and parts prices. The price index for automotive vehicles fell 0.1 percent in March, driven by lower passenger cars prices. Table A. Percent change in Import and Export Price Indexes, selected categories

Original source can be found here