Under the Hood of U.S. Export Prices Are Broad-Based Declines

Here’s one key takeaway from the Labor Department’s report Wednesday on U.S. import and export prices in August:

Prices of goods exported from the U.S. dropped 0.8 percent, the most since January, on broad-based declines. The report reflects slumping commodity costs as well as price cuts by producers to make goods more competitive overseas.

* Agriculture exports slumped 3.4 percent, the most in three years * Industrial supplies dropped 1.2 percent, the most since February, on cheaper fuels and chemicals * Prices of motor vehicles shipped abroad fell 0.5 percent, the biggest decline since monthly data began in December 1988 * Costs of capital equipment fell for a third month * Prices of imports decreased 0.2 percent