U.S. import prices rose just 0.1 percent in June, signaling continued stability in global goods prices and offering no new signs of inflation from overseas markets. The latest data from the Bureau of Labor Statistics show minimal price pressure from foreign producers, reinforcing confidence in international supply chain steadiness.
The modest monthly increase followed a 0.4 percent drop in May, which was revised downward. On an annual basis, import prices have declined 0.2 percent, marking the second consecutive month of year-over-year contraction. Economists had predicted a 0.2 percent rise, suggesting persistent overestimation of foreign inflation risks.
Fuel imports led the downturn, falling 0.7 percent in June. Natural gas prices plunged by 26.8 percent, offsetting a small increase in petroleum. Over the past year, fuel import prices have dropped 15.7 percent.
Excluding fuel, import prices still inched up 0.1 percent. Higher costs for nonfuel industrial supplies and consumer goods contributed to the rise, while capital goods remained flat and automotive vehicle prices edged down by 0.1 percent.
On the export side, prices climbed 0.5 percent in June, the strongest monthly increase since March. Both agricultural and nonagricultural exports posted gains, driven by increased prices in petroleum, chemicals, and metals.
The three-month annualized import price rate now stands at –0.8 percent, highlighting a sustained lack of upward price momentum. These figures suggest that foreign-sourced goods are not contributing significantly to domestic inflation, even as the broader economy contends with varying cost pressures.
Notably, import prices from China rose 0.5 percent—the first monthly increase since 2022—but remain 2.2 percent lower than a year ago. Prices for goods from the European Union and Japan also ticked up, while those from Canada and Mexico saw slight declines.
Overall, the data support the view that foreign supply chains remain competitive and price-stable, easing pressure on U.S. consumers and manufacturers despite shifting trade dynamics and global economic uncertainty.
