May 2022 U.S. Import and Export Price Indexes — 2022-06-15

There was an error on page 3 of the release concerning the last time capital goods export prices had a larger 12-month increase. That has been corrected. U.S. import prices rose 0.6 percent in May, after advancing 0.4 percent in April, the U.S. Bureau of Labor Statistics reported today. Higher fuel prices in May offset lower nonfuel prices. The price index for U.S. exports increased 2.8 percent in May following a 0.8-percent rise the previous month. Prices for U.S. imports advanced 0.6 percent in May following a 0.4-percent increase in April and a 3.0- percent rise in March. The last monthly decline for import prices was a 0.4-percent decrease in December 2021. U.S. import prices increased 11.7 percent for the year ended in May. (See table 1.) Fuel Imports: Import fuel prices rose 7.5 percent in May, after advancing 0.5 percent in April and 17.7 percent in March.