US export prices increased 0.4 percent month-over-month in October of 2018, after showing no growth in the previous month and above market expectations of a 0.1 percent gain. It was the largest monthly increase in export prices since May. Prices of nonagricultural exports rose 0.5 percent, following a 0.2 percent rise in September, mainly due to higher prices of nonagricultural industrial supplies and materials, and automotive vehicles; while consumer goods prices fell in October. Meanwhile, cost of agricultural exports dropped 0.3 percent after declining 6.1 percent over the previous 3 months, driven by lower nut and cotton prices, which fell 4.6 percent and 5.3 percent, respectively. Year-on-year, export prices went up 3.1 percent, following a 2.7 percent rise in September. Export Prices in the United States averaged 108.90 Index Points from 1983 until 2018, reaching an all time high of 135.30 Index Points in September of 2011 and a record low of 82.40 Index Points in September of 1986.
Export Prices in the United States is expected to be 128.08 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Export Prices in the United States to stand at 128.36 in 12 months time. In the long-term, the United States Export Prices is projected to trend around 119.00 Index Points in 2020, according to our econometric models.