–Import Prices Ex. Fuels Fall 0.2%, Ex. Petroleum Also Down 0.2%
–Fuel Import Prices Jump 4.1% After Falling In Previous Four Months
–Export Prices +0.9%, Agriculture Prices +5.1%, Non-Ag +0.4%

By Kevin Kastner

WASHINGTON (MNI) – U.S. prices for imported goods rose 0.7% in
August, ending a string of declines, but the increase was entirely
attributable to a surge in imported energy prices, according to data
released by the Labor Department Wednesday.

Total fuel import prices, which include petroleum as well as
natural gas, rose 4.1% in the month after falling in each of the
previous four months.

Petroleum prices were also up 4.1%, while natural gas import prices
were up 6.8%, continuing their upward trend despite a large US domestic
supply. Natural gas prices were still down 33.2% from a year ago.

Outside of the energy component, however, import prices declined
virtually across the board. Non-fuel industrial supplies fell 0.4%, while
capital goods prices fell 0.1%, food prices were down 0.9%, and
consumer goods excluding autos price fell 0.3%. Prices of imported
automobiles were flat.

Total import prices excluding both food and fuels were down 0.2% in
the month after a 0.4% decline in July.

Despite the August rebound, total import prices were down 2.2%
year/year in August, due to a 7.4% year/year decline in the price of
fuels. Excluding fuels, import prices were down 0.5% from a year ago.

Total export prices rose 0.9% in August, led by agricultural
products, which jumped 5.1% in the month and were up 7.7% from a year
earlier.

Export prices for non-agricultural products were up 0.4% in August
on rising industrial supply prices, which were offset by declines in the
prices of capital goods and autos.

Total export prices were down 0.9% year/year, while
non-agricultural export prices were down 1.9% over the last 12 months.

The country data were mixed. The price of imports from both China
and Japan were flat. The price of imports from the EU fell 0.4%, while
closer to home, the price of imports from Canada were up 1.6% and the
price of imports from Mexico were up 0.1%.

** MNI Washington Bureau (202) 371-2121 **

[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]