U.S. terms of trade with China fell 5.0 percent in July 2022, after advancing 1.9 percent in June. The July drop in terms of trade with China was the largest 1-month decline since data on monthly percent changes began in January 2018. Despite the decrease in July, the index for U.S. terms of trade with China rose 6.7 percent over the past year.read full article »
Prices for semiconductors imported into the United States increased 8.0 percent from July 2021 to July 2022, following a rise of 8.2 percent for the year ended in June 2022. The advance in June was the largest 12-month increase since the index rose 9.5 percent from September 1992 to September 1993.
The Producer Price Index for final demand increased 9.8 percent from July 2021 to July 2022. Prices for final demand less foods, energy, and trade services increased 5.8 percent.
Real (adjusted for inflation) average weekly earnings decreased 3.6 percent from July 2021 to July 2022. During this period, real average hourly earnings decreased 3.0 percent.
The Consumer Price Index for All Urban Consumers was unchanged in July 2022 after rising 1.3 percent in June and 1.0 percent in May. Gasoline prices fell 7.7 percent in July and offset increases in food and shelter prices, resulting in the index for all items being unchanged in July. From July 2021 to July 2022, the index for all items increased 8.5 percent.