US import prices rose 0.4% in July, driven by increases in both fuel and nonfuel imports, reversing declines from the previous two months, according to the US Bureau of Labor Statistics. Fuel import prices jumped 2.7%, with petroleum and natural gas leading the gains. Nonfuel imports rose 0.3%, mainly due to higher costs for industrial supplies, consumer goods, and capital goods. Meanwhile, US export prices saw a modest 0.1% increase in July after a 0.5% rise in June. Over the year, import prices declined 0.2%, though nonfuel imports rose 0.9%. The BLS writes:
U.S. import prices increased 0.4 percent in July, the U.S. Bureau of Labor Statistics reported today, following a 0.1-percent decrease in June. Higher prices for nonfuel imports and fuel imports drove the advance in July. Prices for U.S. exports rose 0.1 percent in July, after increasing 0.5 percent the previous month.
Imports
Import prices increased 0.4 percent in July following a decrease of 0.1 percent in June and a decline of 0.4 percent in May. Prices for U.S. imports decreased 0.2 percent from July 2024 to July 2025.
Fuel Imports
Prices for import fuel advanced 2.7 percent in July, following an increase of 0.8 percent in June and a decrease of 5.0 percent in May. The July increase was the largest monthly advance since the index rose 3.0 percent in January 2025.
Higher prices for import petroleum and import natural gas drove the July increase, advancing 2.4 percent and 4.7 percent, respectively. Fuel import prices decreased 12.1 percent for the 12 months ended July 2025. The price index for petroleum imports decreased 13.7 percent over the past 12 months. Prices for import natural gas increased 62.2 percent over the same period.
Read more here.
