Import prices in the US fell 2.6 percent from a month earlier in April of 2020, following an upwardly revised 2.4 percent decline in March and compared to market expectations of a 3.1 percent fall. It remains the largest decline in import prices since January of 2015, mainly due to a record 31.5 percent plunge in fuel prices, after WTI oil prices turned negative for the first time in history in April amid storage concerns. Excluding fuel, import prices went down 0.5 percent, driven by lower prices for industrial supplies and materials; foods, feeds, and beverages; and consumer goods, which more than offset rising prices for automotive vehicles and capital goods. Year-on-year, import cost went down 6.8 percent, the biggest anual decline since December of 2015.
Import Prices in the United States averaged 109.28 points from 1982 until 2020, reaching an all time high of 147.50 points in July of 2008 and a record low of 75 points in March of 1986. This page provides - United States Import Prices - actual values, historical data, forecast, chart, statistics, economic calendar and news. United States Import Prices - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: U.S. Bureau of Labor Statistics
Import Prices in the United States is expected to be 124.90 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Import Prices in the United States to stand at 125.74 in 12 months time. In the long-term, the United States Import Prices is projected to trend around 125.74 points in 2021 and 128.74 points in 2022, according to our econometric models.