May 2016 U.S. Import and Export Price Indexes — 2016-06-14

Prices for U.S. imports increased 1.4 percent in May, following advances of 0.7 percent in April and 0.4 percent in March, the U.S. Bureau of Labor Statistics reported today. The May rise was primarily driven by higher fuel prices, although nonfuel prices also increased. U.S. export prices advanced 1.1 percent in May, after rising 0.5 percent the previous month. All Imports: Import prices rose for the third consecutive month in May, rising 1.4 percent, after recording 0.7-percent and 0.4-percent increases in April and March. The May advance was the largest monthly rise since the index increased 1.4 percent in March 2012. The last 1-month gain larger than 1.4 percent was a 2.6-percent advance in April 2011. Despite the recent increases, import prices declined 5.0 percent over the past 12 months, driven by decreases over the second half of 2015 and the first 2 months of 2016.