US Import, Export Prices Slip in July Amid Year-Over-Year Gains
US import and export prices experienced a decline in July, according to data released by the Bureau of Labor Statistics. Import prices fell 0.4% on a monthly basis, while export prices dropped 1.3%. Despite these monthly declines, both imports and exports showed significant year-over-year increases.
From July 2025 to July 2026, import prices rose 5.9%, with fuel prices increasing by 25.2% over the same period. Export prices soared 8.2%, driven by a 26.3% increase in the price index for petroleum and petroleum products.
The drop in import prices was largely attributed to lower fuel costs, which fell 7.2% in July following decreases of 3.8% in June and 12.1% in May. However, natural gas prices rose by 5.3%, with a year-over-year increase of 74.3%. Nonfuel imports saw a modest 0.4% monthly increase, but still managed to rise 4.5% from July 2025 to July 2026.