Input Stories

U.S. import prices inched up 0.1% in June, after slipping 0.4% in May, with higher nonfuel prices offsetting lower fuel prices. Over the past year, import prices decreased 0.2%. Meanwhile, U.S. export prices increased 0.5% in June, with nonagricultural and agricultural export prices both rising. Over the past year, export prices increased 2.8%.

In June, U.S. import prices for manufacturing rose just 0.2% over the year, but with significant divergences in prices across the industry. Petroleum and coal products manufacturing experienced the most significant over-the-year U.S. import price declines in June, falling 19.0%. On the other hand, the greatest yearly increase in U.S. import prices occurred in primary metal manufacturing, which rose 10.2% from June 2024. Meanwhile, U.S. export prices for manufacturing in June increased 3.4% over the year.

Fuel import prices fell 0.7% over the month in June, following declines of 5.0% in May and 2.6% in April. Lower prices for natural gas more than offset petroleum prices. Prices for fuel imports plummeted 15.7% from June 2024. Import prices for petroleum ticked up 0.1% over the month in June but fell 16.6% from last year. Meanwhile, natural gas prices plunged 26.8% in June but jumped 37.4% over the year.

Nonfuel import prices increased 0.1% in June, after staying the same in May. Higher prices for nonfuel industrial supplies and materials and consumer goods more than offset lower prices for automotive vehicles and foods, feeds and beverages. The price index for nonfuel imports grew 1.2% over the past year and has not declined on a year-over-year basis since February 2024.

After rising 0.3% in May, agricultural export prices increased 0.8% in June, the largest monthly increase since a 2.1% increase in October 2024. Over the past 12 months, agricultural export prices increased 1.5%. Meanwhile, nonagricultural export prices increased 0.5% in June. Higher prices for nonagricultural industrial supplies and materials, consumer goods and automotive vehicles more than offset higher prices for capital goods. Over the past year, nonagricultural export prices advanced 2.9%.