Prices for U.S. imports decreased 0.2 percent in June, the U.S. Bureau of Labor Statistics reported today, following a 0.7 percent decline in May. In June, a drop in nonfuel prices more than offset increasing fuel prices. The price index for U.S. exports edged down 0.1 percent in June, after a 0.5 percent decrease the previous month.
All Imports: Import prices fell 0.2 percent in June following decreases of 0.7 percent in May, 0.6 percent in April, and 0.1 percent in March. Unlike the May and April declines where lower fuel prices contributed to the decreases, the June drop resulted solely from lower nonfuel prices. Despite the decline over the past four months, overall import prices rose 0.2 percent for the year ended in June following a 1.9 percent decrease from May 2012 to May 2013.
Fuel Imports: Import fuel prices ticked up 0.1 percent in June following a 1.9 percent drop in May and a 2.4 percent decline in April. The June rise was led by a 0.2 percent advance in petroleum prices, following a 2.0 percent drop the previous month. In contrast, natural gas prices decreased 1.2 percent in June. Prices for import fuel rose 4.6 percent over the past year, after falling 11.5 percent between June 2011 and June 2012. A 2.9 percent rise in petroleum prices and a 93.3 percent advance in natural gas prices each contributed to the 12-month increase in fuel prices.
All Imports Excluding Fuel: In contrast to fuel prices, nonfuel prices continued to decline in June, falling 0.3 percent, after decreases of 0.3 percent in May, 0.2 percent in April, and 0.1 percent in March. In June, lower prices for nonfuel industrial supplies and materials; foods, feeds, and beverages; and each of the major finished goods categories all contributed to the overall decline in nonfuel prices. The price index for nonfuel imports fell 1.0 percent over the past year, primarily driven by a 4.2 percent drop in nonfuel industrial supplies and materials prices.
All Exports: U.S. export prices edged down 0.1 percent in June following declines of 0.5 percent, 0.7
percent, and 0.5 percent the three previous months. In June, decreasing nonagricultural prices more than
offset an increase in the price index for agricultural exports. Overall export prices increased 0.8 percent for
the year ended in June, after decreasing 0.9 percent for the year ended in May.
Agricultural Exports: Agricultural prices advanced 0.6 percent in June following a 1.1 percent increase in
May. The June rise was led by a 5.3 percent advance in soybean prices, a 2.3 percent increase in corn prices,
and a 4.7 percent rise in nut prices. Prices for agricultural exports increased 9.3 percent between June 2012
and June 2013.
All Exports Excluding Agriculture: The price index for nonagricultural exports declined 0.2 percent in
June, driven by a 0.5 percent drop in nonagricultural industrial supplies and materials prices. The June
decline followed decreases of 0.7 percent in May and 0.5 percent in April. Nonagricultural prices also fell
for the year ended in June, declining 0.3 percent.