November 2024 U.S. Import and Export Price Indexes — 2024-12-13

Prices for U.S. imports increased 0.1 percent for the second consecutive month in November, the U.S. Bureau of Labor Statistics reported today. Higher fuel prices led the November advance. U.S. export prices were unchanged in November following a 1.0-percent rise the previous month. The price index for U.S. imports ticked up 0.1 percent in November and October, after declining 0.4 percent in September and 0.3 percent in August. U.S. import prices rose 1.3 percent from November 2023 to November 2024, the largest over-the-year advance since the index increased 1.7 percent for the year ended July 2024. (See table 1.) Fuel Imports: Import fuel prices advanced 1.0 percent in November following a 0.8-percent decline the previous month. Higher prices for natural gas and petroleum in November contributed to the increase in import fuel prices. Despite the November rise, prices for import fuel declined 8.6 percent over the past 12 months.