U.S. import prices rose 0.7% in August 2026, reversing a 0.3% decline in July, while export prices increased 0.6%, according to the U.S. Bureau of Labor Statistics. Import prices were up 7.0% from a year earlier, their largest annual increase since August 2022.

The increase was mainly driven by nonfuel imports, which rose 0.8%, while fuel import prices edged down 0.1%. Import prices from China rose 1.0% in August, the largest monthly increase since records began in 2004.

U.S. export prices also increased, with agricultural exports up 0.5% and nonagricultural exports up 0.7%. Overall, export prices were 8.6% higher than a year earlier, reflecting broad increases in industrial materials, capital goods and other products.

The data show strong increases in U.S. import and export prices compared with a year earlier, with higher nonfuel import costs and rising export prices shaping August’s trade-price picture.

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