WASHINGTON – U.S. import prices fell by 0.2% in June on a significant drop in fuel prices and industrial supplies and materials, according to data released by the Bureau of Labor Statistics Tuesday.
Import prices rose 0.1% excluding petroleum and were up 0.1% excluding all fuels.
Overall import prices were up 1.0% year/year rate. In addition, prices excluding fuels were up 1.0% year/year and prices excluding petroleum were also up 1.4% year/year.
The 0.1% gain in import prices outside of fuels was the result of increases in most non-fuel components, except for consumer goods, and industrial supplies and materials.
All fuel components were down, posting a 2.1% drop, with petroleum import prices dropping further to 2.2%. However, year-over-year rate for petroleum import prices was up 4.5%.
Excluding the gains in fuel prices foods and feeds prices, import prices were flat. The year-over-year rate of increase for this category was 0.8%.
By region, prices for imports from Canada, China, Latin America, Mexico, and Japan were all lower, while prices from the Asian NICs and the EU were higher.
Total export prices slid 0.2% in June as agricultural export prices fell 1.5%. Export prices excluding agriculture were up flat.
Export prices rose 0.6% from a year earlier and were down 3.9% for agricultural commodities.
