Foreign trade prices in the U.S. economy declined on a monthly basis in July. According to data released Tuesday by the U.S. Bureau of Labor Statistics, import prices fell 0.4% and export prices declined 1.3%.
Despite these monthly declines, import prices rose 5.9% from July 2025 to July 2026. During the same period, export prices increased 8.2%.
Imported fuel prices declined
Imported fuel prices fell 7.2% in July. This category had declined 3.8% in June and risen 12.1% in May.
Prices for imported petroleum and petroleum products fell more sharply than natural gas prices rose. Prices for petroleum and petroleum products decreased 7.5%, while imported natural gas prices increased 5.3%.
Fuel prices rose 25.2% from July 2025 to July 2026. During the same period, the price index for petroleum and petroleum products increased 26.3%, while natural gas prices rose 74.3%.
Annual increase in nonfuel import prices
Nonfuel import prices rose 0.4% on a monthly basis in July. The annual increase in this category reached 4.5%, its highest level since June 2022.