Import/Export Prices down year/year

Import and Export Prices (September 2014)

– Export Prices month/month -0.2%. Previous was -0.5%

– Export Prices year/year   -0.2%. Previous was +0.4%

– Import Prices month/month -0.5%. Previous was -0.9%

– Import Prices year/year  -0.9%. Previous was -0.4%.

I find most important the fact that import and export prices have declined year on year.  Import prices are down because oil prices have dropped.  Oil prices have dropped because domestic production has increased.  Domestic oil production has increased to the point where the U.S. is the world’s largest oil producing nation.  Weakened GDP in the E.U. has kept their demand side down helping keep export prices controlled.