July 2025 U.S. Import and Export Price Indexes

Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

U.S. import prices increased 0.4 percent in July, the U.S. Bureau of Labor Statistics reported today, following a 0.1-percent decrease in June. Higher prices for nonfuel imports and fuel imports drove the advance in July. Prices for U.S. exports rose 0.1 percent in July, after increasing 0.5 percent the previous month.

Imports

Import prices increased 0.4 percent in July following a decrease of 0.1 percent in June and a decline of 0.4 percent in May. Prices for U.S. imports decreased 0.2 percent from July 2024 to July 2025. (See table 1.)

Fuel Imports: Prices for import fuel advanced 2.7 percent in July following an increase of 0.8 percent in June and a decrease of 5.0 percent in May. The July increase was the largest monthly advance since the index rose 3.0 percent in January 2025. Higher prices for import petroleum and import natural gas drove the July increase, advancing 2.4 percent and 4.7 percent, respectively. Fuel import prices decreased 12.1 percent for the 12 months ended July 2025. The price index for petroleum imports decreased 13.7 percent over the past 12 months. Prices for import natural gas increased 62.2 percent over the same period.

All Imports Excluding Fuel: Prices for nonfuel imports advanced 0.3 percent in July, following a decrease of 0.3 percent in June. Higher prices for nonfuel industrial supplies and materials, consumer goods, and capital goods more than offset lower prices for automotive vehicles and foods, feeds, and beverages. Nonfuel import prices increased 0.9 percent for the year ended July 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; capital goods; and foods, feeds, and beverages contributed to the 12-month advance.

Foods, Feeds, and Beverages: Foods, feeds, and beverages import prices decreased 0.1 percent in July following a decline of 1.3 percent in June and a drop of 0.7 percent in May. The index has not recorded a monthly advance since a 0.2-percent increase in January. Lower prices for distilled alcoholic beverages and green coffee more than offset higher prices for meat, vegetables, and food oils.

Nonfuel Industrial Supplies and Materials: Import prices for nonfuel industrial supplies and materials increased 1.0 percent in July, the largest monthly advance since a 1.2-percent rise in February. Higher prices for finished nonmetals (boxes, belting, glass, etc.) and major nonferrous metals-crude more than offset lower prices for nonmonetary gold.

Finished Goods: Prices for the major finished goods import categories were mostly up in July. Import prices for consumer goods increased 0.4 percent in July, the largest 1-month rise since February 2024. Higher prices for apparel, footwear, and household goods contributed to the July advance. The price index for automotive vehicles decreased 0.2 percent in July, the largest monthly decline since the index dropped 0.2 percent in November 2024. The July decrease was led by lower prices for passenger cars, new and used. Import capital goods prices increased 0.1 percent in July.

Exports

Prices for U.S. exports ticked up 0.1 percent in July, after rising 0.5 percent in June. Higher prices for nonagricultural exports drove the July increase. U.S. export prices advanced 2.2 percent over the 12-month period ended in July. (See table 2.)

Agricultural Exports: The price index for agricultural exports was unchanged in July following a 0.8- percent increase in June. Higher prices for meat and vegetables offset lower prices for corn and animal feeds. The price index for agricultural exports increased 3.4 percent for the year ended in July, the largest 12-month rise since a 5.3-percent advance in January 2023. Higher prices for nuts and meat more than offset lower prices for soybeans from July 2024 to July 2025.

All Exports Excluding Agriculture: Nonagricultural export prices ticked up 0.1 percent in July, after rising 0.5 percent in June and falling 0.8 percent in May. Higher prices for automotive vehicles, capital goods, and consumer goods more than offset lower prices for nonagricultural industrial supplies and materials. Prices for nonagricultural exports increased 2.0 percent from July 2024 to July 2025. Higher prices for nonagricultural industrial supplies and materials, capital goods, and automotive vehicles drove the 12-month increase.

Nonagricultural Industrial Supplies and Materials: Nonagricultural industrial supplies and materials prices decreased 0.1 percent in July, after an increase of 1.0 percent the previous month. Lower prices for natural gas and nonferrous metals more than offset higher prices for petroleum in July.

Finished Goods: Prices for the major finished goods export categories were up in July. Capital goods prices increased 0.2 percent in July, after declining 0.2 percent the previous month. Higher prices for industrial and service machinery and for agricultural machinery and equipment drove the July advance. Automotive vehicles prices increased 0.7 percent in July, the largest monthly advance since the index rose 0.9 percent in April. The July advance was driven by higher prices for parts, engines, bodies and chassis. Consumer goods prices increased 0.2 percent in July.

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 0.2 percent in July, the first monthly advance since the index increased 0.4 percent in October 2022. The price index for imports from China decreased 2.4 percent over the past 12 months. Prices for imports from Japan increased 0.5 percent in July following decreases of 0.1 percent in June and May. The price index for imports from Japan increased 1.3 percent over the past 12 months, the largest over-the-year advance since the index rose 1.5 percent in January 2024. In July, import prices from Mexico increased 0.8 percent, after rising 0.1 percent the previous month. The July advance was the largest 1-month increase since the index rose 1.1 percent in July 2024. The index for import prices from the European Union increased 1.0 percent in July and prices for imports from Canada rose 0.6 percent. Despite the most recent monthly advance, import prices from Canada declined 3.4 percent for the 12-month period ended in July. (See table 7.)

Exports by Locality of Destination: In July, prices for exports to China increased 1.2 percent, the largest monthly advance since the index rose 2.4 percent in October 2024. The price index for exports to China advanced 1.1 percent over the past 12 months. Prices for exports to Japan decreased 0.7 percent in July following an increase of 0.4 percent in June and a decline of 1.3 percent in May. The price index for exports to Japan increased 0.3 percent over the past 12 months. The export price index for Canada increased 1.7 percent in July, the largest monthly rise since the index advanced 3.0 percent in March 2022. Export prices to the European Union advanced 0.3 percent in July and export prices to Mexico were unchanged, after rising 0.8 percent the previous month. (See table 8.)

Terms of Trade Indexes: Terms of trade indexes are based on 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 increased 1.0 percent in July, following a 2.6-percent decrease in June. The July rise in the U.S. terms of trade with China was driven by the advance in export prices to China. The index for U.S. terms of trade with Japan decreased 1.2 percent, as higher prices for imports and lower prices for exports both contributed to the monthly decline. The U.S. terms of trade index with the European Union decreased 0.7 percent in July, after rising 0.5 percent in June. In July, the U.S. terms of trade index with Canada increased 1.1 percent and U.S. terms of trade with Mexico declined 0.7 percent. (See table 9.)

Import and Export Services

Imports: Import air passenger fares decreased 14.3 percent in July, after an increase of 5.4 percent in June. The July decline was the largest 1-month drop since a 19.4-percent decrease in January 2022. Lower European, Asian, and Latin American/Caribbean fares all contributed to the monthly decrease in import air passenger fares. Import air passenger fares decreased 7.0 percent over the past year, the largest over-the- year decline since August 2023. Prices for import air freight increased 3.1 percent in July. The import air freight index decreased 5.3 percent over the past 12 months, the largest over-the-year drop since the index declined 5.4 percent for the year ended March 2024. (See table 10.)

Exports: Export air passenger fares declined 2.6 percent in July following a 7.6-percent increase the previous month. Lower European, Latin American/Caribbean, and Asian fares drove the decrease of export air passenger fares. The price index for export air passenger fares decreased 5.1 percent from July 2024 to July 2025. Export air freight prices increased 2.3 percent in July and advanced 2.5 percent over the past year. The monthly rise in July was the largest increase since the index advanced 4.9 percent in October 2024.

U.S. Import and Export Price Index data for August 2025 are scheduled for release on Tuesday, September 16, 2025, at 8:30 a.m. (ET).