U.S. Import Prices Fell in August

Date : 09/14/2018 @ 1:00PM
Source : Dow Jones News

U.S. Import Prices Fell in August

   By Sarah Chaney and Harriet Torry 

WASHINGTON-Prices for goods imported into the U.S. declined in August, the Labor Department said Friday. Here are the report's key takeaways:

--Import prices decreased 0.6% in August from the previous month. Unlike other price measures produced by the government, import prices are not seasonally adjusted. August's monthly fall was lower than the 0.3% decline forecast by economists surveyed by The Wall Street Journal.

--Last month's fall in import prices marked the largest monthly decline in well over two years.

--Oil prices helped drive down import prices. The cost of petroleum imports fell 3.9% on the month. Excluding petroleum, import prices fell 0.2%.

--From a year earlier, overall import prices were up 3.7%.

--The overall year-over-year gain in import prices was stronger than the 2.7% increase in the consumer-price index in August from a year earlier. Somewhat stronger import prices could suggest additional inflation is in the pipeline. But take this with some caution. Import-price data only reflect the cost of foreign-made goods. More than 60% of U.S. consumer spending is on services, most of which are domestically produced, including shelter, medical care and college education.

--Friday's report showed export prices fell 0.1% in August and were up 3.6% from a year earlier.

Write to Sarah Chaney at sarah.chaney@wsj.com and Harriet Torry at harriet.torry@wsj.com


(END) Dow Jones Newswires

September 14, 2018 08:45 ET (12:45 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.