Updated: 08-Feb-22 19:13 ET
| February Export Prices ex-ag. |
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| Updated: 08-Feb-22 19:13 ET |
Highlights
- Import prices declined 0.5% month-over-month in February and were up 0.3% excluding fuel. Export prices were down 1.1%, and down 1.0% excluding agricultural products.
- On a year-over-year basis, import prices were down 1.2%, and down 0.7% excluding fuel. Export prices were down 1.3% yr/yr, and down 1.6% excluding agricultural products.
Key Factors
- Prices for fuel imports were down 7.7% in February, which was the largest drop since June 2019.
- Nonfuel import prices were down 0.7% yr/yr and have not increased on a 12-month basis since December 2018.
- Prices for agricultural exports declined 2.7% m/m and were up 0.2% yr/yr.
Big Picture
- The key takeaway from the report is that inflation is still missing for the most part in terms of both import and export prices.
| Category | FEB | JAN | DEC | NOV | OCT |
| Imports | -0.5% | 0.1% | 0.2% | 0.1% | -0.4% |
| Imports, ex-petrol | 0.3% | 0.2% | 0.1% | -0.1% | -0.3% |
| Imports, Petrol | -7.7% | -0.6% | 1.1% | 2.2% | -1.6% |
| Exports | -1.1% | 0.6% | -0.2% | 0.1% | 0.0% |
| Exports, ex-agricultural | -1.0% | 0.6% | -0.2% | -0.1% | -0.2% |