Import and Export Prices Released On 11/15/2013 8:30:00 AM For Oct, 2013 Prior Prior Revised Consensus Consensus Range Actual Export Prices - M/M change 0.3 % 0.4 % 0.2 % -0.1 % to 0.3 % -0.5 % Export Prices - Y/Y change -1.6 % -2.1 % Import Prices - M/M change 0.2 % 0.1 % -0.5 % -2.0 % to 0.2 % -0.7 % Import Prices - Y/Y change -1.0 % -2.0 % Highlights Global prices moved in reverse during October judging by the import & export price report with the import side down a sharp 0.7 percent in the month and the export side down almost as much, 0.5 percent. A major factor on the import side was sharp contraction in petroleum products, down 4.1 percent in the month. Excluding petroleum, import prices were dead flat at zero. Prices of imported finished goods, which offer indications on consumer prices, were likewise flat showing very little monthly change.
Contraction in agricultural prices, down 1.5 percent in the month, was a factor on the export side. But even excluding agricultural products, export prices fell 0.4 percent. For finished goods, prices of imported cars and trucks did rise, up a noticeable 0.4 percent, but prices for exported capital goods fell slightly with consumer goods unchanged.
Monthly rates may be mostly flat but year-on-year rates continue to show contraction, at minus 2.0 for imported prices and minus 2.1 percent for export prices. These are the third straight negative year-on-year readings for both. Core rates are also in the negative column with year-on-year import prices excluding petroleum down for an eighth straight month.
Global price pressures, judging from this report, are flat at best and may be tipping into reverse. Today's report points to low readings for next week's consumer and producer price reports.
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