December 13, 2024 at 01:30PM
Prior month import prices +0.3% revised to 0.1%
Prior month export prices +0.8% revised to 1.0%
Import prices YoY 1.3% vs 0.6% last month (revised from 0.8%). Largest since July
Import prices MoM 0.1% vs -0.2% estimate
Export prices MoM 0.0% vs -0.2% estimate
Imports details:
Fuel Imports:
Prices increased 1.0% in November (after a 0.8% decline in October).
Higher prices for natural gas (+47.4%) and petroleum (+0.4%) contributed to the rise.
Year-over-year, fuel prices declined 8.6%, with petroleum prices down 7.6% and natural gas prices down 34.5%.
All Imports Excluding Fuel:
Prices were unchanged in November (after rising 0.2% in September and October).
Higher prices for foods, feeds, beverages, and consumer goods offset declines in nonfuel industrial supplies, capital goods, and automotive vehicles.
Prices increased 2.3% over the past 12 months.
Foods, Feeds, and Beverages:
Prices rose 1.3% in November, the largest monthly increase since July 2024 (+2.0%).
The rise was driven by a 13.1% increase in vegetable prices.
Nonfuel Industrial Supplies and Materials:
Prices declined 0.2% in November (after rising 1.2% in October and 1.0% in September).
Lower prices for unfinished metals and chemicals led the decline.
Finished Goods:
Capital Goods: Prices decreased 0.1%, the first drop since May 2024, due to lower machinery and equipment prices.
Automotive Vehicles: Prices fell 0.1%, the first decrease since November 2023, driven by lower prices for non-engine parts.
Consumer Goods: Prices increased 0.1% for the third consecutive month.
Export details:
Agricultural Exports:
Prices declined 0.4% in November (previously increased by 1.9% in October, 0.8% in September).
Soybean and fruit prices fell, offsetting higher prices for nuts, bakery/confectionery products, and meat.
Prices decreased 2.5% over the past 12 months.
All Exports Excluding Agriculture:
Prices increased 0.1% in November (after a 0.8% rise in October).
Higher prices for capital goods and nonagricultural foods offset lower consumer goods prices.
Prices for industrial supplies, materials, and automotive vehicles were unchanged.
Year-over-year prices rose 1.2%, the largest 12-month gain since July 2024.
Nonagricultural Industrial Supplies and Materials:
Prices were unchanged in November (following a 1.8% increase in October).
A 1.0% drop in chemical prices offset higher prices for nonferrous metals and fuel.
Finished Goods:
Capital goods prices increased 0.1% in November (following a 0.3% rise in October), driven by electrical generating equipment and tech products.
Consumer goods prices fell 0.1%, with declines in manufactured nondurables and durables.
Automotive vehicle prices were unchanged; higher prices for new passenger vehicles offset lower prices for goods-transport vehicles.
This article was written by Greg Michalowski at www.forexlive.com.
