Updated: 12-Dec-07 09:21 ET

November Export Prices ex-ag.

Updated: 12-Dec-07 09:21 ET

Highlights

• Import prices rose 2.7% (11.4% yoy), ex-petroleum 0.7% (3.0% yoy)
• Export prices rose 0.9% (6.1% yoy), ex-agricultural prices 0.8% (4.6% yoy)

Key Factors

• Petroleum import prices jumped 9.8%, stand 53% above the year ago level.
• Agricultural export prices rose 1.4% and stand 23% higher from a year ago.  Added demand from bio fuels power the gain.
• Annual price movement from China has lifted to 2.3% from a year ago.

Big Picture

• Core import and export prices are breaking out given the very large gains in food and energy.  The strong 23% yoy rise in agricultural export prices reflect the increased demand for grains that are now being increasingly used as alternative fuels as well as larger underlying global demand.  Petroleum import prices have shot 53% higher from a year ago.