• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

U.S. import prices post first decline in 10 months

September 15, 2021 by David Barret Leave a Comment

September 15, 2021

By Lucia Mutikani

WASHINGTON (Reuters) – U.S. import prices fell for the first time in 10 months in August amid a decline in the costs of petroleum products, further evidence that inflation had probably peaked.

Import prices dropped 0.3% last month after increasing 0.4% in July, the Labor Department said on Wednesday. The first decrease since October 2020 lowered the year-on-year increase to 9.0% from 10.3% in July. Economists polled by Reuters had forecast import prices, which exclude tariffs, climbing 0.3%.

The report followed on the heels of news on Tuesday that consumer prices recorded their smallest gain in seven months in August. Federal Reserve Chair Jerome Powell has steadfastly maintained that high inflation is transitory.

The run-up in prices centered on used cars and trucks, as well as services in industries worst affected by the COVID-19 pandemic, is slowing. But strained supply chains will likely keep inflation elevated for a while.

Imported fuel prices tumbled 2.3% last month after increasing 3.0% in July. Petroleum prices dropped 2.4%, while the cost of imported food rose 0.6%.

Excluding fuel and food, import prices fell 0.2%. These so-called core import prices gained 0.1% in July. There were marginal increases in the prices of imported capital goods and consumer goods, excluding automobiles.

Prices for imported motor vehicles, parts and engines rose 0.3% after increasing 0.4% in July. The cost of goods imported from China gained 0.4% after rising 0.6% in July.

The report also showed export prices climbed 0.4% in August, the smallest gain since October 2020, after shooting up 1.1% in July. Prices for agricultural exports rebounded 1.1%. That followed a 1.7% decrease in July. Export prices rose 16.8% year-on-year in August after jumping 17.0% in July.

There were increases in the prices of nuts, wheat, meat, vegetables, and dairy products, which offset lower prices for corn, animal feeds, fruit, and soybeans. Agricultural export prices advanced 33.4% over the past year.

Nonagricultural export prices gained 0.2% after accelerating 1.4% in the prior month. There were gains in the prices of industrial supplies and materials, capital goods, motor vehicles and nonagricultural foods, which offset weak consumer goods prices. Nonagricultural export prices increased 14.9% from a year ago.

(Reporting By Lucia Mutikani; Editing by Andrea Ricci)

Source Link U.S. import prices post first decline in 10 months

David Barret
David Barret

Related posts:

  1. Golf-Garcia, Lowry and Poulter made captain’s picks for Europe’s Ryder Cup team
  2. Japan’s vaccines minister Kono favoured as next PM in opinion polls
  3. Hit to oil output from Ida overshadows demand impact, says Goldman
  4. Nigeria says 75 abducted children released amid army crackdown

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • DNA From Greenland Sled Dogs – Maybe The World’s Oldest Breed – Reveals 1,000 Years Of Arctic History
  • Why Doesn’t Moonrise Shift By The Same Amount Each Night?
  • Moa De-Extinction, Fashionable Chimps, And Robot Surgery – No Human Required
  • “Human”: Powerful New Images Mark The Most Scientifically Accurate “Hyper-Real 3D Models Of Human Species Ever”
  • Did We Accidentally Leave Life On The Moon In 2019 – And Could We Revive It?
  • 1.8 Million Years Ago, Two Extinct Humans Had One Of The Gnarliest Deaths In History
  • “Powerful Image” Of One Of The World’s Rarest Tigers Exposes The Real Danger In Taman Negara
  • Evolution, Domestication, And A Lot Of Very Good Boys: How Wolves Became Dogs
  • Why Do Orcas Have White Spots Near Their Eyes?
  • Tomb Of First King Of Ancient Maya City Discovered In Belize
  • The Real Reason The Tip Of Your Tape Measure Wiggles Like That
  • The “Haunting” Last Message From NASA’s Opportunity Rover, Sent From Inside A Planet-Wide Storm
  • Adorable Video Proves Not All Gorillas Hate The Rain. It Might Even Win One A Mate
  • 5,000-Year-Old Rock Art May Show One Of Ancient Egypt’s First Rulers
  • Alzheimer’s-Linked Protein Levels “20 Times Higher” In Newborn Babies – What Does This Mean?
  • Americans Were Asked If They Thought Civil War Was Coming. The Results Were Unexpected
  • Voyager 1 & 2 Could Be Detected From Almost A Light-Year Away With Our Current Technology
  • Dams Have Nudged Earth’s Poles By Over 1 Meter In The Past 200 Years
  • This Sugar Could Be A Cure For Male Pattern Baldness – And It’s Been In Our Bodies All Along
  • “Cosmic Immigrants”: Daytime Star Seen In 1604 May Be An “Alien Type Ia Supernova”
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version