US Trade Prices Surge Amid Persistent Inflation
US import and export prices rose in August, according to data from the Bureau of Labor Statistics. The increase was broad-based across goods, with import prices rising 0.7% on the month.
Fuel prices dipped 0.1%, offset by lower natural-gas costs, while non-fuel imports increased 0.8%. Import prices were 7% higher year-on-year, the fastest annual increase since August 2022.
Export prices rose 0.6% in August, rebounding from declines in June and July. Agricultural export prices increased 0.5%, supported by higher corn and animal-feed prices, while non-agricultural export prices climbed 0.7% on stronger industrial supplies, capital goods, and automotive products.
The data underscores persistent inflation in US trade flows, with both import and export prices contributing to the rise. Export prices were 8.6% higher year-on-year, with gains led by agricultural and non-agricultural categories.