June 2010 U.S. Import and Export Price Indexes — 2010-07-14

U.S. import prices declined for the second consecutive month in June, the U.S. Bureau of Labor Statistics reported today, decreasing 1.3 percent. The drop was driven by declining fuel prices, although a downturn in nonfuel prices also contributed to the overall decrease. Export prices also fell in June, edging down 0.2 percent following three consecutive monthly increases. All Imports: Prices of U.S. imports fell 1.3 percent in June after a 0.5 percent drop the previous month. The decrease was the largest monthly decline since a 1.3 percent decline in January 2009, which was also the last time the index fell in consecutive months. Despite the recent declines, import prices advanced 4.5 percent for the year ended in June, down on a 12-month basis from an 8.7 percent increase for the May 2009-2010 period. Fuel Imports: Fuel prices also declined for the second consecutive month, falling 4.0 percent in June after a similar 4.1 percent decrease in May.