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June Import Prices Up 0.3%, Export Down 0.6%

7/18/2026

50 9 Full Breakdown

Summary

BLS Import Rise

The U.S. Bureau of Labor Statistics reported the Import Price Index rose 0.3% in June while the Export Index fell 0.6%.
Import prices were 7.1% above a year earlier.
Fuel imports fell 0.4% in June after a 12.6% May surge, with petroleum down 0.7% and natural-gas up 9.2%.
Import air passenger fares jumped 12.6% in June, while export air travel saw passenger fares up 3.5% and freight rates down 3.6%.

Summary

Import Prices Rise

The cease-fire between the United States and Iran collapsed last week, pushing crude oil to a one-month high and raising imported-fuel costs.
Imported capital-goods prices rose 0.4% in June as AI-driven technology demand grew.
The May Import Price Index was revised to a 1.7% increase, down from the reported 1.9% gain.
Reuters-surveyed economists had forecast a 0.7% June import-price decline, yet prices rose 0.3%.

History

Historical Context

In October 1973 OAPEC ordered an oil embargo against the United States to punish American arms shipments to Israel, prompting OPEC members to raise posted crude prices by 17 % on October 16 and to cut exports, which quadrupled world oil prices that year. The embargo’s sudden shock to import-price indices mirrors today’s 0.3 % BLS rise as renewed U.S.–Iran tensions again tighten supply.

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BLS Import Rise

The U.S. Bureau of Labor Statistics reported the Import Price Index rose 0.3% in June while the Export Index fell 0.6%.
Import prices were 7.1% above a year earlier.
Fuel imports fell 0.4% in June after a 12.6% May surge, with petroleum down 0.7% and natural-gas up 9.2%.
Import air passenger fares jumped 12.6% in June, while export air travel saw passenger fares up 3.5% and freight rates down 3.6%.

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