US import prices for November MoM 0.1% vs -0.2% estimate. YoY 1.3%- 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:
This article was written by Greg Michalowski at www.forexlive.com.
Source: US import prices for November MoM 0.1% vs -0.2% estimate. YoY 1.3% (https://www.forexlive.com/news/us-import-prices-for-november-mom-01-vs-02-estimate-yoy-xx-20241213/)
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