U.S. Import and Export Prices Decline in May

U.S. import prices decreased by 0.4 percent in May, following a 0.9 percent increase in April, according to the latest report from the U.S. Bureau of Labor Statistics. This decline was driven by lower prices for both fuel and nonfuel imports. Conversely, U.S. export prices also fell in May, down by 0.6 percent, after a 0.6 percent rise in April.

Imports: Fuel and Nonfuel Categories

Import prices for fuel experienced a notable decrease of 2.0 percent in May, marking the first decline since December 2023. Lower prices for both petroleum and natural gas contributed to this drop. Import petroleum prices specifically fell by 1.7 percent in May, following a substantial increase of 4.6 percent in April. Import natural gas prices also saw a significant decline of 19.5 percent in May.