July 2014 U.S. Import and Export Price Indexes — 2014-08-14

U.S. import prices declined 0.2 percent in July, after increasing each of the 2 previous months, the U.S. Bureau of Labor Statistics reported today. The July decrease was driven by falling fuel prices. Prices for U.S. exports were unchanged in July following a 0.4-percent decrease in June. In July, declining agricultural prices offset higher nonagricultural prices. All Imports: Overall import prices fell 0.2 percent in July, the first monthly decline for the index since a 0.6-percent drop in April. Import prices ticked up 0.1 percent in June and rose 0.3 percent in May. The price index for overall imports advanced 0.8 percent over the past 12 months, a similar movement to the 0.9- percent increase from July 2012 to July 2013. Both higher fuel and nonfuel prices contributed to the most recent year-over-year increase, in contrast to the rise for the year ended in July 2013 which was driven solely by higher fuel prices.