U.S. Import and Export Price Indexes summary

Transmission of material in this release is embargoed until                                      USDL-18-1145
8:30 a.m. (EDT) Friday, July 13, 2018

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                                U.S. IMPORT AND EXPORT PRICE INDEXES - JUNE 2018                                

(NOTE: A problem occurred with the calculation of the U.S. export air passenger fares indexes that 
were released with the June 14, 2018, release of the May U.S Import and Export Price Indexes. The 
corrected data have been issued with this news release.) 

U.S. import prices decreased 0.4 percent in June, the U.S. Bureau of Labor Statistics reported today, 
following a 0.9-percent advance in May. Lower prices for nonfuel and fuel imports contributed to the June 
decline. Prices for U.S. exports rose 0.3 percent in June, after rising 0.6 percent the previous month. 

Imports

All Imports: The price index for U.S. imports fell 0.4 percent in June, after increasing 0.9 percent in May 
and 0.5 percent in April. The June decline was the largest monthly drop since the index decreased 0.5 
percent in February 2016. Despite the downturn in June, overall import prices advanced 4.3 percent between 
June 2017 and June 2018.   

Fuel Imports: Import fuel prices decreased 0.7 percent in June, after a 6.1-percent advance in May and a 
3.9-percent rise in April. Falling prices for both petroleum and natural gas contributed to the overall drop in 
June fuel prices. Prices for petroleum fell 0.8 percent in June following advances of 7.4 percent in May and 
4.2 percent in April. Natural gas prices fell 6.0 percent in June, after a 24.7-percent drop the previous 
month. The price index for natural gas has not recorded a monthly increase since a 13.4-percent advance in 
January. Fuel prices rose 33.8 percent over the past 12 months, driven by a 37.8-percent increase in 
petroleum prices over the same period. In contrast, natural gas prices declined 27.8 percent over the past 
year, the largest 12-month drop since the index fell 34.8 percent for June 2016.   

All Imports Excluding Fuel: Prices for nonfuel imports decreased 0.3 percent in June following a 0.2-
percent increase in May. The June decline was led by lower prices for foods, feeds, and beverages; 
consumer goods; capital goods; and automotive vehicles which more than offset higher prices for nonfuel 
industrial supplies and materials. The price index for nonfuel imports advanced 1.5 percent for the year 
ended in June, driven by higher prices for nonfuel industrial supplies and materials; capital goods; and 
consumer goods. 


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

Month IMPORTS EXPORTS
All
imports
Fuel
imports
Nonfuel
imports
All
exports
Agri-
cultural
exports
Non-
agricultural
exports

2017

June

-0.2 -3.6 0.1 -0.1 -1.4 0.0

July

-0.2 -1.0 -0.1 0.5 1.8 0.3

August

0.6 4.0 0.3 0.6 0.0 0.7

September

0.8 5.7 0.3 0.8 -0.7 0.9

October

0.2 0.3 0.1 0.1 2.0 -0.1

November

1.0 9.8 0.0 0.5 -0.7 0.7

December

0.2 3.3 -0.2 0.1 -0.3 0.0

2018

January

0.8 3.3 0.5 0.7 0.0 0.8

February

0.2 -1.8 0.4 0.2 0.6 0.2

March

-0.2 (r)-2.6 0.1 (r)0.4 3.2 (r)0.1

April

(r)0.5 (r)3.9 (r)0.1 (r)0.5 (r)-1.1 0.7

May

(r)0.9 (r)6.1 0.2 0.6 1.6 (r)0.6

June

-0.4 -0.7 -0.3 0.3 -1.0 0.4

June 2016 to 2017

1.4 5.1 1.1 0.6 -3.8 1.0

June 2017 to 2018

4.3 33.8 1.5 5.3 5.4 5.4

Footnotes
(r) Revised

Exports

All Exports: U.S. export prices increased 0.3 percent in June, after rising 0.6 percent the previous month. In 
June, higher nonagricultural prices more than offset decreasing prices for agricultural exports. Prices for 
overall exports advanced 5.3 percent over the past 12 months, the largest over-the-year increase since the 
index rose 6.3 percent in October 2011. 

Agricultural Exports: Agricultural export prices fell 1.0 percent in June following a 1.6-percent increase in 
May and a 1.1-percent decrease in April. The largest contributors to the June decline were a 2.6-percent 
drop in soybeans prices and a 3.1-percent decrease in corn prices. A 6.4-percent rise in fruit prices partially 
mitigated the overall decrease in agricultural prices. Despite the declines in June and April, export 
agricultural prices increased 5.4 percent over the past 12 months.   

All Exports Excluding Agriculture: The price index for nonagricultural exports increased 0.4 percent in 
June, after advancing 0.6 percent in May. Nonagricultural prices have not recorded a 1-month decline since 
the index edged down 0.1 percent in October 2017. In June, rising prices for nonagricultural industrial 
supplies and materials and capital goods more than offset lower consumer goods and automotive vehicles 
prices. Overall nonagricultural prices rose 5.4 percent over the past year, the largest 12-month advance for 
the index since prices increased 5.8 percent in October 2011.

                                            SELECTED JUNE HIGHLIGHTS                                            

Import Prices

Imports by Locality of Origin: Import prices from China recorded no change in June, after a 0.1-percent 
uptick the previous month. Prices for imports from China increased 0.5 percent over the past year, the 
largest 12-month advance for the index since a 0.6-percent rise between May 2013 and May 2014. In 
contrast, the price index for imports from Japan edged down 0.1 percent in June, the first monthly decline 
since the index fell 0.3 percent in October 2017. Import prices from the European Union, Canada, and 
Mexico all decreased in June, led in part by lower fuel prices. Prices for imports from the European Union 
and Canada decreased 0.3 percent, and the price index for imports from Mexico fell 0.5 percent.  

Nonfuel Industrial Supplies and Materials: Nonfuel industrial supplies and materials prices increased 0.3 
percent in June following a 0.8-percent advance in May. Higher prices for metals and paper drove the June 
advance.   
	
Finished Goods: Prices for each of the major finished goods areas decreased in June. Consumer goods 
prices fell 0.3 percent in June, the first monthly decline since the index decreased 0.1 percent in December 
2017 and the largest 1-month drop since the index fell 0.3 percent in November 2016. The price indexes for 
import capital goods and automotive vehicles each declined 0.1 percent in June.   

Foods, Feeds, and Beverages: Foods, feeds, and beverages prices fell 2.6 percent in June, the largest 
monthly decline for the index since a 2.8-percent drop in February 2012. Falling prices for vegetables, fruit, 
and fish and shellfish all contributed to the decrease in June. 

Transportation Services: Import air passenger fares increased 7.3 percent in June, after decreasing 2.5 
percent the previous month. The June rise was driven by a 7.9-percent advance in European fares and a 
12.6-percent increase in Asian fares. The index for import air passenger fares advanced 4.8 percent over the 
past year. Prices for import air freight fell 1.0 percent in June and increased 17.1 percent over the past 12 
months.

Export Prices

Nonagricultural Industrial Supplies and Materials: Prices for nonagricultural industrial supplies and 
materials rose 1.3 percent in June following a 1.8-percent advance the previous month. Both increases were 
led by higher fuel prices which rose 3.2 percent in June and 5.1 percent in May. 

Finished Goods: Export finished goods prices were mixed in June. Capital goods prices ticked up 0.1 
percent for the second consecutive month in June and have not recorded a monthly decline since the index 
edged down 0.1 percent in October 2016. In contrast, the price indexes for export consumer goods and 
automotive vehicles declined 0.1 percent in June.  

Transportation Services: Export air passenger fares rose 5.0 percent in June, after declining 0.7 percent in 
May and 3.7 percent in April. Higher European, Asian, and Latin American/Caribbean fares all contributed 
to the increase in June. Overall export air passenger fares rose 1.5 percent for the year ended in June. The 
price index for export air freight recorded no change in June and increased 1.4 percent over the past year. 
		
Import and Export Price Index data for July are scheduled for release on Tuesday, August 14, 2018 at 
8:30 a.m. (EDT).


                              New Locality of Destination and Terms of Trade Data 

Beginning with the August news release on September 14, the BLS will introduce two new data series. 
Locality of Destination price indexes will measure export prices based on the country or region where items 
are exported. Terms of Trade indexes are based on the country or region and measure the relative price for 
imports in terms of export prices and are defined as the all-export price index divided by the respective all-
import price index. For more information on Terms of Trade indexes, please see "U.S. Import and Export 
Prices and the Terms of Trade" at www.bls.gov/opub/btn/archive/us-import-and-export-price-indexes-and-
the-terms-of-trade.pdf. 

The Locality of Destination price indexes will be published at the all-export level and also include a 
breakdown by manufacturing industries and nonmanufacturing industries where possible. The countries and 
regions for which indexes will be published include the Industrialized Countries, the European Union, Latin 
America, the Pacific Rim, Canada, China, Germany, Japan, and Mexico. Indexes by manufacturing 
industries and nonmanufacturing industries will be available for all countries and regions except Canada and 
Germany. 

Terms of Trade indexes will be available for all countries and regions where both the import Locality of 
Origin index and the export Locality of Destination index are published. These include the Industrialized 
Countries, the European Union, Latin America, the Pacific Rim, Canada, China, Germany, Japan, and 
Mexico.

The data series for both the Locality of Destination price indexes and the Terms of Trade indexes will begin 
in December 2017 when the indexes are first published on September 14.

In addition to the new indexes, the numbering of the tables in the Import and Export Price Index news 
release will be changing. Tables 1 through 7 will remain the same, and the new Locality of Destination data 
will be in table 8 and the new Terms of Trade data will be in table 9. The current table for Selected 
Transportation Services will change from table 8 to table 10. Other formatting changes to the text of the 
news release will be made. An example of the new format and tables will be provided before the September 
14 release date.  


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Last Modified Date: July 13, 2018