U.S. is Exporting Inflation
by Steven Hansen, guest author cross post from Global Economic Intersection.
The prices for USA exports have surged 8.6% YoY in February 2011 according to the BLS:
U.S. import prices rose 1.4 percent in February, the U.S. Bureau of Labor Statistics reported today, following a similar 1.3 percent advance in January. The price index for U.S. exports increased 1.2 percent in February after rising 1.3 percent the previous month. Higher agricultural and nonagricultural export prices each contributed to the overall advance in February.
On the surface, it raises the question if export prices are up 8.6% – how is this not the inflation rate being seen by consumers. Even the imported prices are up almost 7% YoY.
The big rise in costs for exports can be laid at the feet of agriculture exports. It should come as no surprise that oil contributed to the increase in import prices.
Container Counts: Exports Show Little Improvement in February 2011 by Steven Hansen