Input Stories

U.S. import prices stayed the same in September, after advancing 0.1% in August, with lower fuel import prices offsetting higher nonfuel import prices. Over the past year, import prices rose 0.3%. Meanwhile, U.S. export prices also remained the same in September, after ticking up 0.1% in August. Over the past year, export prices climbed 3.8%, the largest over-the-year rise since December 2022.

In September, U.S. import prices for manufacturing rose 0.3% over the year, but with significant divergences in prices across the industry, while U.S. import prices for nonmanufacturing decreased 2.2% over the year. Beverage and tobacco product manufacturing experienced the most significant over-the-year U.S. import price declines in September, falling 13.8%. On the other hand, the greatest yearly increase in U.S. import prices occurred in primary metal manufacturing, which advanced 12.1% from September 2024. Meanwhile, U.S. export prices for manufacturing in September grew 4.1% over the year, with primary metal manufacturing export prices exhibiting the largest rise (29%).

Fuel import prices decreased 1.5% over the month in September, following a 0.5% decline in August and a 2.8% increase in July. Lower prices for petroleum and natural gas drove the drop, falling 1.5% and 3.0%, respectively. Over the past year, fuel import prices have fallen 4.0%. Import petroleum prices dropped 5.1% over the year in September, while natural gas prices surged 62.9% over that period. Nonfuel import prices rose 0.2% in September, following a 0.1% uptick in August. Higher prices for consumer goods and nonfuel industrial supplies and materials more than offset lower prices for capital goods and foods, feeds and beverages. Nonfuel import prices increased 0.8% on an over-the-year basis.

After declining 0.2% in August, agricultural export prices advanced 0.3% in September. Over the past 12 months, agricultural export prices rose 4.4%. Meanwhile, nonagricultural export prices stayed the same in September. Higher prices for consumer goods, nonagricultural industrial supplies and materials and capital goods drove the increase. Over the past year, nonagricultural export prices jumped 3.7%, the largest over-the-year increase since December 2022.