June 2023 U.S. Import and Export Price Indexes — 2023-07-14

The price index for U.S. imports fell 0.2 percent in June following a 0.4-percent decline in May, the U.S. Bureau of Labor Statistics reported today. Lower nonfuel prices in June more than offset higher fuel prices. Prices for U.S. exports decreased 0.9 percent in June, after declining 1.9 percent the previous month. U.S. import prices decreased 0.2 percent in June and have fallen in 5 of the first 6 months of 2023, after rising 3.2 percent in 2022. Prices for U.S. imports declined 6.1 percent over the past year, the largest 12- month drop since the year ended May 2020. (See table 1.) Fuel Imports: Prices for import fuel rose 0.8 percent in June following a 4.3-percent decline the previous month. Higher petroleum prices in June more than offset lower natural gas prices.