May 2011 U.S. Import and Export Price Indexes — 2011-06-10

U.S. import prices increased 0.2 percent in May, the U.S. Bureau of Labor Statistics reported today, after advancing 3.0 percent in March and 2.1 percent in April. A 0.2 percent drop in fuel prices partially offset higher nonfuel prices. U.S. export prices rose 0.2 percent in May following a 0.9 percent increase the previous month. All Imports: Import prices ticked up 0.2 percent in May after rising more than 1.0 percent in each of the previous seven months. The May advance was led by higher nonfuel prices. In contrast, fuel prices declined for the month. Prices for overall imports advanced 12.5 percent over the past year, the largest 12-month month increase since the index rose 13.1 percent between September 2007 and September 2008. Fuel Imports: Prices for fuel decreased 0.2 percent in May, the first monthly decline for the index since a 1.5 percent drop in September 2010.