The US Bureau of Labor Statistics reports that US import prices rose 1.9% in May 2026, following a 2.0% increase in April, driven by higher fuel and nonfuel import costs. Export prices increased 1.3%, marking their sixth consecutive monthly gain.

Key points:

  • Import prices were up 6.7% year-over-year, the largest annual increase since 2022.
  • Fuel import prices jumped 12.5% in May and were 45.1% higher than a year earlier, led by petroleum and natural gas.
  • Nonfuel import prices rose 0.8%, with increases in capital goods, consumer goods, and automotive products.
  • Export prices increased 11.2% year-over-year, also the strongest annual gain since 2022.
    Higher prices for industrial supplies, machinery, and agricultural products contributed to the rise in exports.

US trade prices continued to climb in May, with energy costs remaining a major driver of import inflation while export prices also showed strong upward momentum.

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