Notizie economiche
13.09.2024

U.S. import-price index decline slightly more than anticipated in August

The report published by the Labor Department on Friday showed the U.S. import-price index declined 0.3 per cent m-o-m in August, following an unrevised 0.1 per cent m-o-m uptick in July. That represented the sharpest monthly decrease in the U.S. import prices since December 2023 (-0.7 per cent m-o-m). 

Economists had anticipated import prices to drop 0.2 per cent m-o-m last month.

According to the report, the August fall mainly reflected a 3.0 per cent m-o-m plunge in fuel import prices. In addition, prices for non-fuel imports slipped 0.1 per cent m-o-m.

Over the 12-month period that ended in August, import prices climbed 0.8 per cent, driven by a 1.3 per cent surge in non-fuel prices. Meanwhile, fuel prices tumbled 4.6 per cent. That marked the 6th straight annual increase in import prices, but the second-weakest one in streak.

The report also revealed that the price index for U.S. exports fell 0.7 per cent m-o-m in August, following a downwardly revised 0.5 per cent m-o-m soar (from +0.7 per cent m-o-m) in the previous month. That was steepest monthly drop in the U.S. export prices since May (-0.7 per cent m-o-m).

Economists had predicted export prices to edge down 0.1 per cent m-o-m in August.

The August slump in the U.S. export-price index reflected a 2.0 per cent m-o-m tumble in prices for agricultural exports and a 0.6 per cent m-o-m decline in prices for non-agricultural exports.

Over the past 12 months, the price index for exports dropped 0.7 per cent, undermined by a 6.9 per cent plunge in prices of agricultural exports and a 0.1 per cent m-o-m decrease in prices of non-agricultural exports. That was the first 12-month decrease since April (-0.8 per cent).

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