U.S. import and export prices fell in July 2026, with cheaper fuel imports driving the monthly decline in import prices, while export prices recorded their sharpest drop since the previous month, according to data from the U.S. Bureau of Labor Statistics (BLS). The report was released on August 18, 2026.
Import prices fell 0.4% in July, following a 0.3% increase in June. Fuel import prices were the main source of downward pressure, dropping 7.2%, their largest monthly decrease since the index began in September 2024. Petroleum prices fell 7.5%, while natural gas prices declined 5.3%.
Prices for imports excluding fuel moved in the opposite direction, rising 0.4%. Higher prices for capital goods, food and beverages, consumer goods and automotive products contributed to the increase. Over the 12 months through July, overall import prices were 5.9% higher, while nonfuel import prices increased 4.5%.
Export prices decreased 1.3% in July, reversing a 0.7% rise in June. Nonagricultural export prices fell 1.5%, while agricultural export prices increased 1.0%. Despite the monthly decline, export prices remained 8.2% above their July 2025 level.
Geographically, import prices from China rose 0.8%, while import prices from Japan rose 0.7%. Prices from Mexico declined 0.3%, and those from Canada fell 2.1%.
Transportation costs also weakened. Import air passenger fares dropped 11.0% in July, while import air freight prices decreased 1.5%. Export air passenger fares rose 0.1%, but export air freight prices fell 1.5%.
The image is an illustration created with AI for general context.
Source: U.S. Bureau of Labor Statistics
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