Transmission of material in this release is embargoed until					USDL-17-1010
8:30 a.m. (EDT) Tuesday, July 18, 2017

Technical information: (202) 691-7101 * MXPinfo@bls.gov * www.bls.gov/mxp
Media contact:	       (202) 691-5902 * PressOffice@bls.gov


                         U.S. IMPORT AND EXPORT PRICE INDEXES - JUNE 2017

U.S. import prices declined 0.2 percent in June, the U.S. Bureau of Labor Statistics reported today, after a 
0.1-percent decrease in May. Lower fuel prices drove the drop in June, which more than offset higher 
nonfuel prices. The price index for U.S. exports fell 0.2 percent in June following a 0.5-percent decline in 
May.


Imports

All Imports: Import prices declined 0.2 percent in June. For the second consecutive month the decline was 
driven by lower fuel prices. Despite the monthly decrease in June, the price index for U.S. imports rose 1.5 
percent over the past 12 months. The last over-the-year decline in import prices was a 0.2-percent decrease 
for the 12-month period ended in October.

Fuel Imports: The price index for fuel imports fell for a fourth consecutive month, declining 2.1 percent in 
June, after decreasing 4.6 percent over the previous 3 months. The main contributor to the drop was a 2.2-
percent decline in petroleum prices. Natural gas prices also fell in June, decreasing 1.0 percent. Despite the 
recent drops, import fuel prices advanced 6.3 percent over the 12-month period ended in June. The import 
price index for petroleum increased 4.5 percent over the past year and natural gas prices rose 58.6 percent. 

All Imports Excluding Fuel: Prices for nonfuel imports ticked up 0.1 percent in June after recording no 
change in May. The index for nonfuel imports has not recorded a monthly decline since a 0.1-percent dip in 
January. Higher import prices for foods, feeds, and beverages and capital goods more than offset lower 
prices for automotive vehicles, consumer goods, and nonfuel industrial supplies and materials. Prices for 
nonfuel imports advanced 1.0 percent over the past 12 months and the index has not recorded a 12-month 
decline since a 0.2-percent decrease in November. Rising prices for nonfuel industrial supplies and materials 
and foods, feeds, and beverages more than offset decreasing prices for capital goods and automotive 
vehicles over the 12-month period ended in June. Consumer goods prices recorded no change over the past 
year. 


Table A. Percent change in Import and Export Price Indexes, selected categories

Exports

All Exports: Prices for U.S. exports fell for a second consecutive month in June, declining 0.2 percent. 
Falling prices for agricultural exports drove the decrease as nonagricultural export prices recorded no 
change. U.S. export prices increased over the past year, advancing 0.6 percent. The price index for U.S. 
exports has not recorded a 12-month decline since a 0.2-percent fall in November. 

Agricultural Exports: The price index for agricultural exports decreased 1.5 percent in June following a 
1.6-percent drop in May. Falling prices for vegetables, soybeans, and fruit drove the June decrease, more 
than offsetting higher prices for meat. Prices for agricultural exports recorded a 3.9-percent decline over the 
12-month period ended in June, the first over-the-year decrease since the index fell 0.3 percent for the year 
ended in December. Lower export prices for soybeans, fruit, and corn led the decrease in agricultural prices 
between June 2016 and June 2017. 

All Exports Excluding Agriculture: Nonagricultural export prices recorded no change in June following a 
0.4-percent decline in May. Advancing prices for nonagricultural industrial supplies and materials and 
consumer goods were offset by decreasing prices for automotive vehicles. Export prices for capital goods 
recorded no change in June. The price index for nonagricultural exports increased 1.1 percent over the past 
12 months as higher prices for nonagricultural industrial supplies and materials and capital goods more than 
offset falling prices for consumer goods. Automotive vehicle prices recorded no change over the past year. 



                                          SELECTED JUNE HIGHLIGHTS


Import Prices

Imports by Locality of Origin: Import prices from China declined 0.1 percent in June. The price index for 
imports from China fell 1.0 percent over the past 12 months and has not recorded a 12-month increase since 
advancing 0.1 percent in October 2014. The price index for imports from Japan decreased 0.1 percent in 
June and increased 1.0 percent over the past year. Import prices fell 0.9 percent from Canada and decreased 
0.2 percent from Mexico in June, after advancing 0.8 percent and 0.3 percent, respectively, the previous 
month. The price index for imports from the European Union rose 0.4 percent in June. 

Nonfuel Industrial Supplies and Materials: Prices for nonfuel industrial supplies and materials decreased 
0.2 percent in June, after falling 0.4 percent the previous month. A 0.8-percent drop in chemical prices and a 
1.0-percent decrease in prices for building materials more than offset higher prices for gold and other 
precious metals.  

Finished Goods: Major finished goods prices were mostly up in June. Import prices for capital goods 
increased 0.2 percent, after recording no change over the previous 3 months. The increase in capital goods 
prices was driven by a 0.4-percent advance in prices for computers, peripherals, and semiconductors. Prices 
for automotive vehicles fell 0.2 percent following increases of 0.1 percent in May and 0.5 percent in April. 
In contrast, consumer goods prices declined 0.1 percent. 

Foods, Feeds, and Beverages: The price index for import foods, feeds, and beverages advanced 0.9 percent 
in June following a 1.0-percent rise in May and a 0.4-percent increase in April. Import prices for vegetables 
led the overall advance in June, rising 6.7 percent. Prices for meat imports also contributed to the overall 
advance in foods, feeds, and beverages prices, increasing 2.1 percent. 

Transportation Services: Import air passenger fares advanced 3.7 percent in June. The increase was 
largely driven by a 10.9-percent rise in Asian fares and a 4.2-percent advance in European fares. Import air 
passenger fares declined 3.8 percent over the past 12 months. Import air freight prices fell 0.8 percent in 
June. Despite the decline, the index increased 11.8 percent over the past year, the largest 12-month advance 
since the index for import air freight rose 13.7 percent in September 2011.


Export Prices

Nonagricultural Industrial Supplies and Materials: Export prices for nonagricultural industrial supplies 
and materials rose 0.1 percent in June following a 1.4-percent decline in May. The June increase was driven 
by a 1.7-percent advance for other petroleum products and a 2.8-percent rise in nonmonetary gold prices.

Finished Goods: Price movements for major finished goods exports were mixed in June. Export consumer 
goods prices rose for the fourth consecutive month, advancing 0.2 percent led by a 0.4-percent increase for 
manufactured durable goods. The price index for export automotive vehicles fell 0.1 percent in June, after 
recording no change in May. Export prices for capital goods recorded no change in June.

Transportation Services: Export air passenger fares rose 4.9 percent in June, the largest monthly advance 
since a 7.9-percent rise in December. European fares drove the increase in June, advancing 7.7 percent. 
Export air passenger fares rose 2.3 percent for the year ended in June. Export air freight prices increased 0.4 
percent in June and rose 4.3 percent over the past year, the largest 12-month increase since a 4.4-percent 
advance in April 2015. 

Import and Export Price Index data for July 2017 are scheduled for release on Tuesday, August 15, 2017 at 
8:30 a.m. (EDT).    

                                         TECHNICAL NOTE


Announcement - The Bureau of Labor Statistics is utilizing new index estimation and review systems 
for the import and export price indexes effective with the release of the June 2017 price data on July 18, 
2017. The new estimation and index review systems, the first major improvement to the existing 
systems in over 20 years, are redesigned, state-of-the-art systems with improved flexibility and review 
capabilities. The changes to the systems will not have a significant effect on the estimates of price 
change for the U.S. import and export price indexes.

Import and Export Merchandise and Services Price Indexes - All indexes use a modified Laspeyres 
formula and are not seasonally adjusted. Price indexes are reweighted annually, with a 2-year lag in the 
weights. Published series use a base year of 2000=100 where possible. More detailed index series and 
additional information may be obtained at www.bls.gov/mxp or by calling (202) 691-7101.

Merchandise Goods Classification Systems - The merchandise price indexes are published using three 
classification systems. Items are classified by end use according to the Bureau of Economic Analysis 
Classification System, by industry according to the North American Industry Classification System 
(NAICS), and by product category according to the Harmonized System (HS). While classification by 
end use and product category are self-explanatory, some notes are in order for classifying items by 
industry. In the NAICS imports and exports tables, items are classified by output industry, not input 
industry. As an example, NAICS import index 326 (plastics and rubber products manufacturing) include 
outputs such as manufactured plastic rather than inputs such as petroleum. The NAICS classification 
structure also matches the classification system used by the Producer Price Index (PPI) to produce the 
NAICS primary products indexes.

Import Price Indexes - Products have been classified by the Harmonized Tariff Schedule of the United 
States Annotated (TSUSA). Import prices are based on U.S. dollar prices paid by the U.S. importer. The 
prices are generally either "free on board" (f.o.b.) foreign port or "cost, insurance, and freight" (c.i.f.) 
U.S. port transaction prices, depending on the practices of the individual industry. The index for crude 
petroleum is calculated from data collected by the U.S. Department of Energy.  

Export Price Indexes - Products have been classified by the Harmonized Schedule B classification 
system of the U.S. Bureau of the Census. The prices used are generally either "free alongside ship" 
(f.a.s.) factory or "free on board" (f.o.b.) transaction prices, depending on the practices of the individual 
industry. Prices used in the grain index, excluding rice, are obtained from the U.S. Department of 
Agriculture.

Services Price Indexes - Starting in September 2008, the import air passenger fares indexes represent 
changes in the average revenue per passenger received by foreign carriers from U.S. residents and are 
calculated from data obtained from an airline consulting service. These data include tickets sold by 
travel agencies and travel websites. Tickets sold directly by the airlines are excluded, as are frequent 
flyer tickets generally. Starting in January 2008, the export air passenger fares indexes represent changes 
in the average revenue per passenger received by U.S. carriers from foreign residents and are calculated 
from data collected directly from airlines. These data include frequent flyer tickets and those sold by 
consolidators. Taxes and fees are included in the import air passenger fares indexes and excluded from 
the export air passenger fares indexes. The air freight indexes are calculated from data collected directly 
from airlines. These data exclude mail and passenger baggage. The scope of the service being priced is 
the movement of freight from airport to airport only, and does not include any ground transportation or 
port service. The air freight indexes are presented using two definitions: balance of payments (which 
represent transactions between U.S. and foreign residents) and international (which represent 
transactions inbound to and outbound from the U.S.). Fact sheets specifying detailed information for 
each services industry are available at www.bls.gov/mxp under "MXP Publications."

Import Indexes by Locality of Origin - Prices used in these indexes are a subset of the data collected 
for the import price indexes. Beginning with January 2002, the indexes are defined by locality of origin 
using a nomenclature based upon the North American Industry Classification System (NAICS). 
Nonmanufactured goods are defined as NAICS 11 and 21, and manufactured goods are defined as 
NAICS 31-33. 

Revision Policy - To reflect the availability of late reports and corrections by respondents, monthly data 
may be revised in each of the 3 months after original publication. After 3 months, no further data 
revisions take place. For example, data first published in the January release will be subject to revision 
in the releases for February, March, and April.

Uses of the Data - The primary use of the indexes is to deflate trade statistics, notably the foreign trade 
sector of the National Income and Product Accounts (NIPA) constructed by the Department of 
Commerce. Other published indexes are useful for general market analysis. For trade in international 
services, balance of payments indexes are used for deflating NIPA, while international indexes are more 
appropriate for market analysis. Merchandise and services indexes also can be used to study U.S. 
competitiveness and to compute price elasticities, and the merchandise import indexes by country or 
region of origin are useful in terms of trade analysis.

Email Subscription - The U.S. import and export price indexes news release is available through an 
email subscription service at www.bls.gov/bls/list.htm. 

Additional Information - More detailed data are available on the Import/Export Price Indexes home 
page at www.bls.gov/mxp. For import and export price indexes data requests, send an email to 
mxpinfo@bls.gov.   

Information from this release will be made available to sensory impaired individuals upon request.  
Voice phone: (202)-691-5200; Federal Relay Service: 1-(800)-877-8339.