August 2023 U.S. Import and Export Price Indexes — 2023-09-15

U.S. import prices rose 0.5 percent in August, after ticking up 0.1 percent the previous month, the U.S. Bureau of Labor Statistics reported today. The August advance was led by higher fuel prices. Prices for U.S. exports increased 1.3 percent in August following a 0.5-percent rise in July. __________________________________________________________________________________________________________ BLS is seeking feedback on an upcoming methodological change to U.S. Import and Export Price Indexes. More information is available in the Federal Register Notice at www.federalregister.gov/documents/2023/09/11/2023-19486/comment-request. Please share your thoughts by emailing [email protected]. __________________________________________________________________________________________________________ The price index for U.S. imports advanced 0.5 percent in August, the largest monthly increase since May 2022. Despite the August increase, U.S. import prices fell 3.0 percent over the past year. (See table 1.) Fuel Imports: Import fuel prices rose 6.7 percent in August following a 2.2-percent advance in July. The August increase was the largest 1-month advance since March 2022.