2017 Economic Calendar
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Import and Export Prices  
Released On 4/12/2017 8:30:00 AM For Mar, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Import Prices - M/M change0.2 %0.4 %-0.2 %-0.5 % to 0.1 %-0.2 %
Export Prices - M/M change0.3 %0.1 %-0.5 % to 0.4 %0.2 %
Import Prices - Y/Y change4.6 %4.8 %4.2 %
Export Prices - Y/Y change3.1 %3.2 %3.6 %

Highlights
Boosted by farm prices, export prices are extending their trend higher while momentum for import prices, due to March's dip in oil, has slowed. Export prices rose an as-expected 0.2 percent in March with the year-on-year rate extending its climb, to plus 3.6 percent for the 4th straight positive reading after 2-1/2 years of contraction. Agricultural prices jumped 0.9 percent in the month for a strong year-on-year gain of 5.3 percent.

Import prices, hit by a 3.6 percent pull back for petroleum, fell an as-expected 0.2 percent with this annual rate slipping 6 tenths to plus 4.2 percent. Prices of consumer imports, which are an important component of total consumer inflation, fell 0.2 percent though readings in the prior two months were unusually strong, at upwardly revised gains of 0.3 percent in February and 0.4 percent in January. Year-on-year, however, prices of consumer imports remain in the negative column at minus 0.2 percent.

By country, import prices from Canada fell 1.3 percent in the month but were up 12.9 percent on the year, reflecting the monthly downswing in petroleum prices but their still strong yearly gain. Import prices with China rose 0.2 percent but, reflecting mostly weak prices for consumer goods, were down 1.2 percent on the year. Import prices with the EU rose 0.1 percent in the month and 1.0 percent on the year with Japan at a monthly plus 0.2 percent and plus 1.4 percent on the year.

March slowing aside, this is the 5th straight plus-side yearly reading for import prices. And the February and January gains for consumer imports do point to prior traction for consumer prices while the strength in export prices is also a plus. And the ongoing swing higher for oil back over $50 per barrel points to a reversal higher for import prices in the April report. Today's results will keep in place expectations for soft headlines but intrend core readings in tomorrow's producer price report and Friday's consumer price report.

Recent History Of This Indicator
Oil prices fell sharply in March compared to February which points to weakness for March import prices. On the export side, farm prices have been firm though the comparison with a sharp gain in February is difficult. Forecasters see import prices dipping 0.2 percent vs a 0.2 percent increase in February with export prices seen rising 0.1 percent vs the prior month's increase of 0.3 percent.

Definition
Import price indexes are compiled for the prices of goods that are bought in the United States but produced abroad and export price indexes are compiled for the prices of goods sold abroad but produced domestically. These prices indicate inflationary trends in internationally traded products.  Why Investors Care
 
[Chart]
Yearly changes in import and export prices reveal long term price trends for tradable goods, whether inflationary, disinflationary, or deflationary.
Data Source: Haver Analytics
 
 

2017 Release Schedule
Released On: 1/122/103/94/125/106/157/188/159/1910/1711/1612/14
Release For: DecJanFebMarAprMayJunJulAugSepOctNov
 


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