June 2025 U.S. Import and Export Price Indexes

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U.S. import prices advanced 0.1 percent in June, the U.S. Bureau of Labor Statistics reported today, following a 0.4-percent decrease in May. Higher prices for nonfuel imports more than offset lower prices for fuel imports in June. Prices for U.S. exports increased 0.5 percent in June, after declining 0.6 percent the previous month.

Imports

Import prices ticked up 0.1 percent in June following a decrease of 0.4 percent in May and an advance of 0.1 percent in April. Prices for U.S. imports fell 0.2 percent from June 2024 to June 2025, matching the 12- month decline for the year ended May 2025. Those were the largest annual decreases since the index fell 0.9 percent for the year ended February 2024. (See table 1.)

Fuel Imports: Fuel prices declined 0.7 percent in June following decreases of 5.0 percent in May and 2.6 percent in April. Lower prices for natural gas more than offset higher prices for petroleum. Since February, the price index for import fuel has declined 11.3 percent. Prices for import petroleum ticked up 0.1 percent in June and import natural gas prices fell 26.8 percent over the same period. Fuel import prices decreased 15.7 percent between June 2024 and June 2025. The price index for petroleum imports decreased 16.6 percent over the past 12 months and prices for import natural gas advanced 37.4 percent over the same period.

All Imports Excluding Fuel: Prices for nonfuel imports ticked up 0.1 percent in June, after being unchanged in May. Higher prices for nonfuel industrial supplies and materials and consumer goods more than offset lower prices for foods, feeds, and beverages and automotive vehicles. Nonfuel import prices increased 1.2 percent for the year ended June 2025 and have not declined on an over-the-year basis since a 0.6-percent decrease in February 2024. Higher prices for nonfuel industrial supplies and materials; foods, feeds, and beverages; capital goods; and automotive vehicles more than offset lower prices for consumer goods from June 2024 to June 2025.

Foods, Feeds, and Beverages: Prices for import foods, feeds, and beverages decreased 0.8 percent in June following declines of 0.7 percent in May and 0.1 percent in April. Lower prices for distilled alcoholic beverages, cocoa beans, and food oils more than offset higher prices for vegetables and for bakery and confectionery products in June.

Nonfuel Industrial Supplies and Materials: Import prices for nonfuel industrial supplies and materials increased 0.7 percent in June, after a 0.1-percent advance in May. Higher prices for major nonferrous metals and finished metals shapes and advanced manufacturing more than offset lower prices for agricultural products used for industrial supplies and materials.

Finished Goods: Prices for the major finished goods import categories were mixed in June. Import capital goods prices were unchanged in June following a 0.2-percent rise the previous month. Higher prices for industrial and service machinery and for scientific and medical machinery offset lower prices for computers, peripherals, and semiconductors. Import prices for consumer goods advanced 0.4 percent in June, the largest 1-month increase since February 2024. The price index for automotive vehicles fell 0.1 percent in June following an increase of 0.1 percent in May.

Exports

Prices for U.S. exports increased 0.5 percent in June following a decrease of 0.6 percent in May and an advance of 0.1 percent in April. Higher prices for both nonagricultural and agricultural exports drove the June increase. U.S. export prices increased 2.8 percent from June 2024 to June 2025, the largest over-the- year rise since the index advanced 2.8 percent for the year ended January 2025. (See table 2.)

Agricultural Exports: The price index for agricultural exports increased 0.8 percent in June following a 0.3-percent advance in May. The June increase was the largest monthly rise since the index advanced 2.1 percent in October 2024. Higher prices for meat and soybeans more than offset lower prices for fruit. Over the past 12 months, the price index for agricultural exports advanced 1.5 percent, as higher prices for nuts and meat more than offset lower prices for soybeans. Export agricultural prices have not recorded an over- the-year decrease since December 2024.

All Exports Excluding Agriculture: Nonagricultural export prices increased 0.5 percent in June, after falling 0.7 percent in May and rising 0.1 percent in April. Higher prices for nonagricultural industrial supplies and materials, consumer goods, and automotive vehicles more than offset lower prices for capital goods in June. Prices for nonagricultural exports increased 2.9 percent from June 2024 to June 2025.

Nonagricultural Industrial Supplies and Materials: Nonagricultural industrial supplies and materials prices increased 0.9 percent in June, following decreases of 2.1 percent in May and 0.7 percent in April. Higher prices for petroleum, chemicals, and nonferrous metals more than offset lower prices for natural gas in June. Over the past 12 months, the price index for nonagricultural industrial supplies and materials advanced 3.8 percent.

Finished Goods: Prices for the major finished goods export categories were mixed in June. Capital goods prices decreased 0.1 percent in June, led by lower prices for electric apparatus and parts. Prices for export automotive vehicles ticked up 0.1 percent in June and have not declined on a monthly basis since a 0.3- percent drop in April 2023. Export consumer goods prices rose 0.8 percent in June, the largest 1-month increase since a 1.0-percent advance in January 2023.

More information for the major import and export price indexes can be found at www.bls.gov/web/ximpim/largest.htm.

Measures of Import and Export Prices by Locality

Imports by Locality of Origin: Import prices from China increased 0.5 percent in June following decreases of 0.7 percent in May and 0.8 percent in April. The June advance was the first 1-month rise for import prices from China since a 0.4-percent increase in October 2022. The price index for imports from China decreased 2.2 percent over the past 12 months. Prices for imports from Japan increased 0.5 percent in June following 3 consecutive months of 0.1-percent declines. The price index for imports from Japan advanced 1.5 percent over the past 12 months, the largest annual increase since January 2024. The price index for imports from the European Union increased 0.6 percent in June, after advancing 0.4 percent in each of the 2 previous months. In contrast, the price indexes for imports from Canada and Mexico decreased in June, each edging down 0.1 percent. (See table 7.)

Exports by Locality of Destination: The price index for exports to China decreased 2.5 percent in June, the largest 1-month decline since the index fell 2.7 percent in December 2022. Over the past 12 months, export prices to China edged down 0.1 percent, the first annual decline since December 2024. Prices for exports to Japan increased 1.0 percent in June following decreases of 1.5 percent in May and 0.2 percent in April. The price index for exports to Japan increased 1.2 percent over the past 12 months. Prices for exports to Canada increased 2.4 percent in June, the largest 1-month advance since a 3.0-percent rise in March 2022. The price index for exports to the European Union advanced 0.4 percent in June and export prices to Mexico increased 0.1 percent over the same period. (See table 8.)

Terms of Trade Indexes: Terms of trade indexes are based on the country, region, or grouping and measure the change in the purchasing power of exports relative to imports. The U.S. terms of trade index with China decreased 3.0 percent in June, following a 0.4-percent advance in May. The June decline was the largest 1-month decrease for the index since a 4.5-percent drop in July 2022. Despite the decrease in June, U.S. terms of trade with China advanced 2.2 percent over the past year. The index for U.S. terms of trade with Japan increased 0.5 percent in June following a 1.4-percent drop the previous month. U.S. terms of trade with Japan declined 0.3 percent over the past 12 months. The index for U.S. terms of trade with the European Union decreased 0.1 percent in June, after falling 1.2 percent in May. In June, the U.S. terms of trade index with Canada increased 2.5 percent and the U.S. terms of trade index with Mexico ticked up 0.1 percent. (See table 9.)

Import and Export Services

Imports: Import air passenger fares increased 5.4 percent in June, after rising 7.3 percent in May. European, Asian, and Latin America/Caribbean fares all contributed to the June increase. Despite the June advance, import air passenger fares decreased 3.7 percent over the past year. Prices for import air freight increased 3.8 percent in June following a decrease of 4.1 percent in May and an advance of 4.9 percent in April. Higher Asian and European air freight prices contributed to the June increase. Over the past 12 months, import air freight prices increased 3.7 percent. (See table 10.)

Exports: Export air passenger fares increased 7.6 percent in June following a 1.9-percent decrease the previous month. Higher European, Latin America/Caribbean, and Asian fares drove the advance. The index for export air passenger fares decreased 2.0 percent from June 2024 to June 2025, the largest annual decline since a 4.0-percent decrease in August 2024. Export air freight prices increased 1.0 percent in June, after declining 2.5 percent in May. Higher Asian air freight export prices more than offset lower European air freight export prices. From June 2024 to June 2025, export air freight prices advanced 3.5 percent.

U.S. Import and Export Price Index data for July 2025 are scheduled for release on Friday, August 15, 2025, at 8:30 a.m. (ET).