Update, import prices

By Staff -- Purchasing, 7/15/1999

Buyers won't be playing the import price card for too much longer. The U.S. import price index rose 0.7% in May, representing a third consecutive monthly increase. However, almost the entire rise is attributable to petroleum, according to the BLS report. Price index tracking non-petroleum imports gained just one tenth of a point in May after declining in the two months prior. For the twelve months ending in May, import prices are still down 1%, according to BLS. The slight increase in the index tracking non-petroleum imports was led by rises for industrial supplies and materials. Biggest one-month import price gains: pulp and waste paper (+1%), metal ores and scrap (+1.2%), natural gas (+11.9%), organic chemicals (+0.9%), primary plastics (+1.3%), non-primary plastics (+0.8%), iron and steel (+0.5%).

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