Import and Export Prices Drop for Third Straight Month

Import and export prices are both down for the third month in a row, according to a May Labor Department report (link opens in PDF) released today.

After falling a revised 0.7% in April, import prices made the biggest splash, with a 0.6% decline for May. A 1.9% fall in fuel prices was the primary reason for this month's decline, with just a 0.3% drop in nonfuel import prices. In the past year, overall import prices are down 1.9%, mostly due to a 4.4% drop in fuel prices.

Source: Labor Department

Export prices fell 0.5%, not quite keeping up with import prices. Analysts had expected import prices to stay steady, with predictions for a 0.1% decline in export prices. Unlike imports, nonagricultural industrial supplies and materials provided the primary pull, with a 1.8% decline in May . Agricultural export prices headed 1% higher. Over the past year, export prices have fallen 0.9%, even as agricultural prices have increased 4.7%.

Source: Labor Department

The article Import and Export Prices Drop for Third Straight Month originally appeared on Fool.com.

You can follow Justin Loiseau on Twitter @TMFJLo and on Motley Fool CAPS @TMFJLo.Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.