June 2008 U.S. Import and Export Price Indexes — 2008-07-11

The U.S. Import Price Index rose 2.6 percent in June, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The increase followed a 2.6 percent advance in May and was led by a continuing rise in petroleum prices. The price index for exports increased 1.0 percent in June after rising 0.4 percent in May. Percent changes in import and export price indexes by End Use category - not seasonally adjusted - June import prices rose 2.6 percent and were up 11.7 percent between February and June. Import prices advanced 20.5 percent over the past year, which was the largest year-over-year rise since the index was first published in September 1982. Higher petroleum prices continued to be the major contributor to the advance in overall import prices, increasing 7.4 percent in June after rising 8.9 percent, 7.9 percent, and 10.1 percent respectively, in the prior three months.