In September, US import prices were unchanged from the previous month, as higher nonfuel import prices offset declines in fuel prices, according to the Bureau of Labor Statistics. Fuel import prices fell 1.5% due to lower petroleum and natural gas costs, continuing a downward trend over the past year. Nonfuel import prices rose 0.2%, led by higher costs for industrial supplies, materials, and consumer goods, while capital goods and food imports declined. Overall, import prices increased 0.3% from a year earlier, marking the first year-over-year gain since March 2025. Export prices remained unchanged for the month after a 0.1% rise in August. The BLS writes:
U.S. import prices recorded no change in September, the U.S. Bureau of Labor Statistics reported, following a 0.1% increase in August. Higher prices for nonfuel imports offset lower prices for fuel imports. Export prices were also unchanged in September after rising 0.1% in August. (Note: September data collection was completed before the lapse in appropriations.)
Import prices recorded no change in September, following increases of 0.1% in August and 0.3% in July. Prices for U.S. imports rose 0.3% from September 2024 to September 2025, marking the first year-over-year increase since the index rose 0.8% for the year ended March 2025.
Fuel Imports
Import fuel prices declined 1.5% in September, following a 0.5% decrease in August and a 2.8% increase in July. Prices for petroleum fell 1.5%, and natural gas prices decreased 3.0%, marking the seventh consecutive monthly decline for natural gas imports. Over the year, import fuel prices fell 4.0%, with petroleum imports down 5.1% and natural gas imports up 62.9%.All Imports Excluding Fuel
Nonfuel import prices rose 0.2% in September, following a 0.1% increase in August. Higher prices for industrial supplies, materials, and consumer goods offset declines in capital goods and foods, feeds, and beverages. On a year-over-year basis, nonfuel imports increased 0.8%, with higher costs for industrial supplies and capital goods outweighing declines in automotive vehicles, food, and consumer goods.Foods, Feeds, and Beverages
Import prices for foods, feeds, and beverages declined 0.8% in September, following decreases of 1.8% in August and 0.2% in July. Lower costs for fruit, distilled alcoholic beverages, and cocoa beans offset higher prices for meat and fish/shellfish.Nonfuel Industrial Supplies and Materials
Prices for nonfuel industrial supplies and materials increased 1.2% in September, after a 0.2% rise in August. This was the largest monthly increase since February 2025, driven by higher prices for finished metal shapes, advanced manufacturing, and other finished nonmetals (boxes, belting, glass, etc.).Finished Goods
Prices for major finished goods categories were mixed. Capital goods prices declined 0.2%, led by lower prices for computers, peripherals, and semiconductors, which offset higher industrial and service machinery costs. Consumer goods prices increased 0.4%, driven by apparel and household goods, offsetting lower prices for medicinal, dental, and pharmaceutical materials. Automotive vehicles prices were unchanged.
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