July 2026 U.S. Import and Export Price Indexes

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U.S. import prices decreased 0.4 percent in July, the U.S. Bureau of Labor Statistics reported today, following a 0.3-percent decline in June. Lower prices for fuel imports more than offset higher prices for nonfuel imports in July. Prices for U.S. exports decreased 1.3 percent in July after falling 0.7 percent the previous month.

Imports

Import prices fell 0.4 percent in July following a decline of 0.3 percent in June and an advance of 1.7 percent in May. The July decrease in U.S. import prices was the largest monthly decline since the price index fell 0.5 percent in May 2025. Despite the monthly decline, prices for U.S. imports increased 5.9 percent from July 2025 to July 2026. (See table 1.)

Fuel Imports: Prices for import fuel fell 7.2 percent in July following a decrease of 3.8 percent in June and an increase of 12.1 percent in May. The July decrease was the largest monthly decline since the index fell 7.2 percent in September 2024. Lower prices for petroleum and petroleum products more than offset higher prices for natural gas. In July, prices for import petroleum and petroleum products fell 7.5 percent, and import natural gas prices advanced 5.3 percent. From July 2025 to July 2026, import fuel prices increased 25.2 percent. Over the same period, the price index for import petroleum and petroleum products advanced 26.3 percent, and prices for import natural gas increased 74.3 percent.

All Imports Excluding Fuel: Prices for nonfuel imports increased 0.4 percent in July. Higher prices for capital goods; foods, feeds, and beverages; as well as automotive vehicles, parts, and engines more than offset lower prices for nonfuel industrial supplies and materials. From July 2025 to July 2026, nonfuel import prices rose 4.5 percent, the largest over-the-year advance since the index increased 4.6 percent for the year ended June 2022. Higher prices for capital goods; nonfuel industrial supplies and materials; consumer goods, excluding automotives; as well as foods, feeds, and beverages more than offset lower prices for automotive vehicles, parts, and engines for the year ended July 2026.

Foods, Feeds, and Beverages: Prices for import foods, feeds, and beverages advanced 0.9 percent in July following decreases of 0.1 percent in June and 0.3 percent in May. In July, higher prices for other animal and vegetable preparations and products, fruit, as well as food oils and oilseeds more than offset lower prices for cane and beet sugar, green coffee, as well as bakery and confectionery products.

Nonfuel Industrial Supplies and Materials: Import prices for nonfuel industrial supplies and materials declined 0.5 percent in July after a 0.3-percent increase in June. Lower prices for major nonferrous metals- crude as well as for finished metals shapes and advanced manufacturing more than offset higher prices for finished nonmetals (boxes, belting, glass, etc.).

Finished Goods: Prices for the major finished goods import categories were mostly up in July. Import capital goods prices increased 0.9 percent. Higher prices for computers, peripherals and semiconductors; industrial and service machinery; as well as civilian aircraft, engines, and parts drove the increase. The price index for import automotive vehicles, parts, and engines increased 0.2 percent in July, and prices for import consumer goods, excluding automotives, were unchanged over the same period.

Exports

Prices for U.S. exports decreased 1.3 percent in July following a decline of 0.7 percent in June and an advance of 1.2 percent in May. Lower prices for nonagricultural exports more than offset higher prices for agricultural exports. Over the past year, U.S. export prices increased 8.2 percent. (See table 2.)

Agricultural Exports: The price index for agricultural exports increased 1.0 percent in July after ticking up 0.1 percent in June. Prices for agricultural exports have not recorded a 1-month decline since December 2025. Agricultural export prices advanced 5.7 percent over the past 12 months, as higher prices for soybeans, other foods and food preparations, as well as oilseeds and food oils drove the over-the-year rise.

All Exports Excluding Agriculture: Nonagricultural export prices declined 1.5 percent in July after falling 0.7 percent in June and rising 1.2 percent in May. Lower prices for nonagricultural industrial supplies and materials more than offset higher prices for capital goods; automotive vehicles, parts, and engines; as well as consumer goods, excluding automotives, in July. Prices for nonagricultural exports increased 8.5 percent from July 2025 to July 2026. Higher prices for nonagricultural industrial supplies and materials; capital goods; as well as consumer goods, excluding automotives, drove the 12-month increase.

Nonagricultural Industrial Supplies and Materials: Nonagricultural industrial supplies and materials prices decreased 4.1 percent in July after declining 2.1 percent the previous month. Lower prices for fuel, nonferrous metals, and chemicals drove the decrease in July.

Finished Goods: Prices for the major finished goods export categories were up in July. Capital goods export prices increased 0.5 percent in July following advances of 0.5 percent in June and 0.4 percent in May. In July, higher prices for scientific and medical machinery; industrial and service machinery; as well as computers, peripherals, and semiconductors drove the increase. Over the same period, export consumer goods, excluding automotives, prices increased 0.2 percent. Prices for export automotive vehicles, parts, and engines rose 0.7 percent in July, the largest 1-month advance since April 2025.

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 advanced 0.8 percent in July, the largest monthly increase since the price index rose 0.8 percent in July 2008. Over the past 12 months, the price index for imports from China increased 2.7 percent. Prices for imports from Japan increased 0.6 percent in July following a decrease of 0.5 percent in June and an increase of 0.3 percent in May. The price index for imports from Japan increased 1.7 percent over the past 12 months. The price index for imports from the European Union decreased 0.2 percent in July following a decline of 0.5 percent in June. Import prices from Mexico decreased 0.3 percent for the second consecutive month in July. Prices for imports from Canada fell 2.1 percent in July, the first 1-month decline for this index since September 2025. (See table 7.)

Exports by Locality of Destination: Prices for exports to China decreased 0.5 percent in July, after ticking up 0.1 percent in June. The July decrease was the largest monthly decline since the index fell 0.7 percent in December 2025. The price index for exports to China increased 5.6 percent over the past 12 months. Prices for exports to Japan increased 0.2 percent in July following advances of 0.6 percent in June and 0.5 percent in May. The price index for exports to Japan increased 10.4 percent over the past 12 months, the largest over the year advance since July 2022. The price index for exports to the European Union decreased 1.9 percent in July, and export prices to Mexico increased 0.3 percent over the same period. Prices for exports to Canada increased 2.2 percent in July, the largest monthly advance since the index rose 3.0 percent in March 2022. (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 decreased 1.3 percent in July following a 0.5-percent decline in June. Higher import prices from China and lower export prices to China contributed to the decrease in the U.S. terms of trade index with China in July. The index for U.S. terms of trade with Japan declined 0.3 percent. The index for U.S. terms of trade with the European Union decreased 1.6 percent in July after falling 0.8 percent in June. In July, the U.S. terms of trade index with Canada increased 4.3 percent, and the index for U.S. terms of trade with Mexico increased 0.6 percent. (See table 9.)

Import and Export Services

Imports: Import air passenger fares decreased 11.0 percent in July after rising 12.6 percent in June and 11.3 percent in May. Lower prices for European and Asian fares more than offset higher prices for Latin American/Caribbean fares in July. Import air passenger fares increased 16.9 percent over the past year, the largest 12-month advance since February 2023. Prices for import air freight fell 2.2 percent in July following an increase of 1.4 percent in June. Despite the monthly decline, import air freight prices advanced 23.4 percent over the past 12 months. (See table 10.)

Exports: Export air passenger fares ticked up 0.1 percent in July following a 3.5-percent increase the previous month. Higher prices for Latin American/Caribbean and Asian fares more than offset lower prices for European fares in July. The price index for export air passenger fares increased 2.6 percent from July 2025 to July 2026. Export air freight prices decreased 1.5 percent in July following a decline of 2.9 percent the previous month. In spite of the recent declines, prices for export air freight advanced 12.5 percent over the past 12 months.

The U.S. Import and Export Price Indexes news release for August is scheduled to be published on Wednesday, September 16, 2026, at 8:30 a.m. (ET).