September 2024 U.S. Import and Export Price Indexes — 2024-10-16

Prices for U.S. imports declined 0.4 percent in September following a 0.2-percent decrease the previous month, the U.S. Bureau of Labor Statistics reported today. Lower fuel prices in September more than offset higher nonfuel prices. U.S. export prices fell 0.7 percent in September, after declining 0.9 percent in August. The price index for U.S. imports decreased 0.4 percent in September, the largest 1-month drop since a 0.7- percent decline in December 2023. The September decrease followed a 0.2-percent decline in August and 0.1-percent advances in July and June. U.S. import prices edged down 0.1 percent over the past year, the first 12-month drop since February 2024. (See table 1.) Fuel Imports: Prices for import fuel fell 7.0 percent in September, after declining 2.9 percent in August. The September decline was the largest monthly decrease since an 8.0-percent drop in December 2023. Lower prices in September for petroleum and natural gas contributed to the overall decrease.