November 2022 U.S. Import and Export Price Indexes — 2022-12-14

U.S. import prices decreased 0.6 percent in November following a 0.4-percent drop the previous month, the U.S. Bureau of Labor Statistics reported today. Lower nonfuel and fuel prices contributed to the November decline in U.S. import prices. Prices for U.S. exports fell 0.3 percent in November, after decreasing 0.4 percent the previous month. The price index for U.S. imports fell 0.6 percent in November and has not recorded a monthly advance since a 0.2-percent increase in June 2022. U.S. import prices declined 4.6 percent from June to November, after rising 8.1 percent in the first half of 2022. Despite the recent decreases, prices for U.S. imports rose 2.7 percent over the past year, the smallest 12-month advance since January 2021. (See table 1.) Fuel Imports: Prices for import fuel fell 2.8 percent in November following a decline of 2.7 percent in October.