Crude oil prices spur gains for U.S. import and export price indexes, despite the appreciating dollar: 2016 annual summary

Abstract

Since 2012, the U.S. import and export price indexes have experienced a downward trend. However, in 2016, these indexes reversed trend as both recorded over-the-year increases. Crude oil prices and exchange rates tell much of the story. This article discusses how changes to these two fundamental economic characteristics contributed to 2016 trends and examines the price movements found in detailed indexes for U.S. imports and exports.