Import price index continues to fall
By Staff -- Purchasing, 5/21/1998
The trend may be too weak or too gradual to cause a stir among buyers, but data from the BLS shows that import prices have been tracking steadily downward in recent months. The Import Price Index fell 1% in March 1998, representing a fifth consecutive decline. For the twelve months ending March, the index fell nearly 6%. Excluding petroleum, the Import Price Index fell 3%, following a 2% decline over the preceding twelve-month period. Capital goods led the decline in non-petroleum import prices. The index for industrial supplies and materials excluding petroleum fell 0.2% (led by chemicals) in March after dropping 0.9%, 1.6%, and 1.4% in each of the three preceding months. Here are the details:
Percent changes for selected commodities
(annual % chg)
Mar-98/Mar-97 Mar-98/Mar-97
Crude rubber -28.1 Nonprimary plastics -5.6
Pulp and wastepaper -1.1 Iron and steel -1.4
Metal ores and scrap -2.4 Nonferrous metals 0.1
Petroleum products -32.8 Metal products -2.2
Inorganic chemicals -6.8 Computers and office equip -12.9
Organic chemicals -8.7 Telecommunications equip -3.7
Primary plastics 2.7 Electrical machinery -5.4
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