{"id":558520,"date":"2026-07-20T05:45:08","date_gmt":"2026-07-20T05:45:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/558520\/"},"modified":"2026-07-20T05:45:08","modified_gmt":"2026-07-20T05:45:08","slug":"us-import-prices-up-7-1-in-june-highest-annual-gain-since-august-2022","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/558520\/","title":{"rendered":"US import prices up 7.1% in June, highest annual gain since August 2022"},"content":{"rendered":"<p> <img src=\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/07\/us-import-prices-up-71-in-june.jpg\" alt=\"US import prices up 7.1% in June, highest annual gain since August 2022\" decoding=\"async\" fetchpriority=\"high\"\/> As global crude prices climb and import bills swell across countries, the US has a different story to tell. Its import prices are rising too\u2014but fuel is not the culprit. US import prices recorded an unexpected increase in June as a rise in nonfuel import costs outweighed lower fuel prices, according to data released by the US Bureau of Labor Statistics. The import price index rose 0.3% during the month, extending the upward trend seen in recent months after increases of 2.1% in April and 1.7% in May.Compared with June last year, import prices were 7.1% higher, the strongest annual rise since August 2022.&#8221;US import prices advanced 7.1% from June 2025 to June 2026, the largest over-the-year increase since the index rose 7.7% in August 2022,&#8221; the bureau said.The report showed that nonfuel imports continued to push overall import prices higher. Nonfuel import prices climbed 4.2% over the 12 months to June, the biggest annual increase since June 2022.&#8221;Higher prices for nonfuel imports more than offset lower prices for fuel imports in June,&#8221; it said.Within the nonfuel category, industrial supplies and materials became more expensive for the second straight month. Prices rose 1.2% in June after increasing 1.0% in May, supported by higher costs for chemicals and finished nonmetals, including boxes, belting and glass. These gains offset lower prices for crude major non-ferrous metals.Fuel prices, however, moved in different directions. Petroleum import prices fell 0.7% in June, while natural gas import prices increased 9.2%. Despite the monthly decline in petroleum, the broader fuels and lubricants category remained sharply higher than a year ago, rising 44.1%. Over the same period, petroleum import prices increased 45.4% and natural gas prices surged 92.9%.The bureau also reported another decline in prices for imported foods, feeds and beverages. The index fell 0.2% in June after slipping 0.3% in May, following a 0.4% increase in April.&#8221;Foods, feeds, and beverages import prices decreased 0.2 percent in June following a decline of 0.3 percent in May and an increase of 0.4% in April.&#8221;While import prices edged higher, export prices moved in the opposite direction. US export prices fell 0.6% in June after jumping 1.2% in May, marking their first monthly decline since May 2025.According to the bureau, weaker nonagricultural export prices outweighed gains in agricultural exports.&#8221;Lower prices for nonagricultural exports more than offset higher prices for agricultural exports in June. The price index for US exports advanced 10.2% from June 2025 to June 2026,&#8221; it said.<\/p>\n","protected":false},"excerpt":{"rendered":"As global crude prices climb and import bills swell across countries, the US has a different story to&hellip;\n","protected":false},"author":2,"featured_media":558521,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,19115,113,61,236199,60,236198,208595,236197],"class_list":["post-558520","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-crude-oil-prices","tag-economy","tag-ie","tag-import-price-index","tag-ireland","tag-nonfuel-import-costs","tag-us-bureau-of-labor-statistics","tag-us-import-prices"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/558520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=558520"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/558520\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/558521"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=558520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=558520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=558520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}