United States import prices declined 0.6 percent and exports prices edged down 0.1 percent in August, the U.S. Department of Labor reported on Friday.
The decline of import prices in August was the largest monthly drop since the index fell 1.3 percent in January 2016.
Prices for U.S. imports advanced 3.7 percent over the past year.
Import fuel prices decreased 3.9 percent in August, the first decline for the index since a 2.6-percent drop in March and the largest monthly decline since a 6.8-percent decrease in February 2016.
Petroleum prices declined 3.9 percent in August, after increasing in each of the previous 4 months, and natural gas prices fell 6.3 percent following an 18.0-percent increase in July.
Nonfuel import prices edged down 0.1 percent in August. Despite the downward trend over the past 3 months, nonfuel import prices increased 0.9 percent for the year ended in August. The increase was led by a 6.4-percent rise in nonfuel industrial supplies and materials prices.
Prices for all export decreased 0.1 percent in August, after declining 0.5 percent in July. The price index for overall exports advanced 3.6 percent for the year ended in August.
The price index for agricultural exports rose 0.2 percent in August following a 5.2-percent decline the previous month. Agricultural prices decreased 1.7 percent for the year ended in August.
Nonagricultural export prices fell 0.2 percent in August, after recording no change in July. Prices for nonagricultural exports increased 4.1 percent over the past year.
The decline of import prices in August was the largest monthly drop since the index fell 1.3 percent in January 2016.
Prices for U.S. imports advanced 3.7 percent over the past year.
Import fuel prices decreased 3.9 percent in August, the first decline for the index since a 2.6-percent drop in March and the largest monthly decline since a 6.8-percent decrease in February 2016.
Petroleum prices declined 3.9 percent in August, after increasing in each of the previous 4 months, and natural gas prices fell 6.3 percent following an 18.0-percent increase in July.
Nonfuel import prices edged down 0.1 percent in August. Despite the downward trend over the past 3 months, nonfuel import prices increased 0.9 percent for the year ended in August. The increase was led by a 6.4-percent rise in nonfuel industrial supplies and materials prices.
Prices for all export decreased 0.1 percent in August, after declining 0.5 percent in July. The price index for overall exports advanced 3.6 percent for the year ended in August.
The price index for agricultural exports rose 0.2 percent in August following a 5.2-percent decline the previous month. Agricultural prices decreased 1.7 percent for the year ended in August.
Nonagricultural export prices fell 0.2 percent in August, after recording no change in July. Prices for nonagricultural exports increased 4.1 percent over the past year.
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