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Import price index down 6.1 percent between February 2015 and February 2016
March 15, 2016
Prices for U.S. imports decreased 6.1 percent between February 2015 and February 2016. Despite a downward trend over the past 8 months, the drop recorded in February was the smallest 12-month decline since the index fell 5.6 percent for the year ended in December 2014.
U.S. import price percent changes and relative importance for selected categories of goods, February 2015 to February 2016
Category
Percent change, Feb 2015 to Feb 2016
Relative importance, Jan 2016
All commodities
-6.1
100.000
Nondurables, manufactured
1.9
13.383
Transportation equipment excluding motor vehicles
0.4
2.774
Automotive vehicles, parts & engines
-0.8
16.470
Durables, manufactured
-1.5
13.148
Nonmanufactured consumer goods
-1.8
1.536
Nonelectrical machinery
-2.3
22.945
Electric generating equipment
-2.4
3.559
Nonmetals related to durable goods
-2.7
1.727
Paper & paper base stocks
-3.7
0.591
Selected building materials
-4.9
1.299
Foods, feeds, & beverages
-5.1
6.250
Finished metals related to durable goods
-6.5
1.714
Materials associated with nondurable supplies & materials
-7.4
4.921
Unfinished metals related to durable goods
-21.3
3.142
Fuels & lubricants
-37.3
6.542
Prices for fuels and lubricants (which had a relative importance weight of 6.5, accounting for that percentage of trade value) declined 37.3 percent over the year ended in February 2015. A 38.5-percent decrease in petroleum prices contributed the most to the overall drop. Natural gas prices also fell for the year ended in February, declining 36.4 percent.
Prices for most categories with the largest relative weights also decreased, but much less than fuel prices. Prices for nonelectrical machinery (relative importance, 22.9 percent) declined 2.3 percent over the year. Prices for automotive vehicles, parts and engines (relative importance, 16.5 percent) decreased by 0.8 percent, and those of durables, manufactured (relative importance, 13.1 percent) by 1.5 percent.
United States Department of Labor
