US import price index for May 1.1%% versus 0.8% estimate

Author: Greg Michalowski | Category: News

US import and export price indices for May 2021

Import prices are soaring
  • prior report.
  • Import prices 1.1% versus 0.8% estimate. Last month 0.7% revised to 0.8%
  • Export prices 2.2% versus 0.8% estimate. Last month 0.8% revised to 1.1%
  • Import prices ex petroleum 0.9% versus 0.5% estimate. Last month 0.7% . Non-fuel import prices rose 6%, the largest 12 month advance since the index increased 6.1% in 2008
  • Import prices year on year 11.3% versus 10.9% estimate. Last month 10.6% revised to 10.8%.
  • Export prices year on year 17.4% versus 15.2% estimate. Last month 14.4% revised to 14.9%.
The gain in import prices follows a 0.8% rise in April, a 1.5% rise in March and a 1.2% rise in February. Import prices have not recorded a decline since index is down -0.1% in October. The 11.3% increase year on year is the largest cents 12.7% from September 2010 to September 2011.

The gain in export prices of 2.2% follows a 1.1% rise in April, a 2.5 percent rise in March and a 1.6% rise in February. Export prices as not recorded a monthly drop since -3.5% in April 2020.

All exports excluding agriculture prices advance 1.7% in May after 1.2% in April.  

The rise in prices is a global phenomenon as the pandemic subsides and shortages and reopenings cause havoc. 
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