October 2024 U.S. Import and Export Price Indexes — 2024-11-15

U.S. import prices increased 0.3 percent in October following a 0.4-percent decline in September, the U.S. Bureau of Labor Statistics reported today. Higher nonfuel and fuel prices contributed to the October advance. The price index for U.S. exports rose 0.8 percent in October, after decreasing 0.6 percent the previous month. Prices for U.S. imports rose 0.3 percent in October, the largest 1-month advance since a 0.9-percent increase in April 2024. The advance in October followed declines of 0.4 percent in September and 0.3 percent in August. U.S. import prices increased 0.8 percent from October 2023 to October 2024. (See table 1.) Fuel Imports: The price index for import fuel advanced 1.5 percent in October, after a 7.5-percent decrease in September. The rise in October was the largest monthly increase since a 3.9-percent advance in April 2024. Higher prices for petroleum and natural gas in October contributed to the overall rise in import fuel prices.