US import prices for April 0.4% vs 0.3% estimate

• Prior month -0.6% revised to -0.8%
• Import prices 0.4% vs 0.3%. This was the first increase since December.
• Export price 0.2% vs 0.2% expected.
• Prior month export prices revised from -0.3% to -0.6%
• YoY Import prices -4.8% unchanged vs last month (revised from -4.6%)

Import price highlights:

• Import prices declined -4.8% on a 12-month basis, largest drop since May 2020.
• Fuel Imports: Prices rose 4.5% in April, first monthly increase since June 2022; fell 25.9% over the past year.
• Import petroleum prices advanced 5.7% in April, declined 25.7% from April 2022 to April 2023.
• Import natural gas prices fell 17.4% in April, decreased 45.7% over the past year (largest decline since April 2015).
• All Imports Excluding Fuel: Nonfuel import prices unchanged in April; fell 1.9% over the past 12 months (largest drop since April 2016).
• Foods, Feeds, and Beverages: Prices advanced 0.2% in April.
• Nonfuel Industrial Supplies and Materials: Prices decreased 0.2% in April.
• Finished Goods: Import prices for major categories were mixed in April.
  • Consumer goods price index rose 0.2%; fell 0.2% from April 2022 to April 2023.
  • Capital goods price index edged down 0.1%.
  • Automotive vehicles prices were unchanged in April; rose 1.9% over the past year.

Export price highlights:

• Export prices fell 5.9% from April 2022 to April 2023, largest drop since May 2020.
• Agricultural Exports: Prices rose 0.4% in April; fell 3.9% over the past year (largest drop since June 2020).
• All Exports Excluding Agriculture: Nonagricultural export prices advanced 0.2% in April; declined 6.3% from April 2022 to April 2023 (largest decrease since May 2020).
• Nonagricultural Industrial Supplies and Materials: Prices increased 0.2% in April.
• Finished Goods:
  • Consumer goods prices rose 0.3% in April.
  • Capital goods prices advanced 0.2% in April.
  • Automotive vehicles prices decreased 0.3% in April.

The import price data is certainly a help to the US inflation picture but it comes off sharply higher levels last year.

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/inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term