US import and export prices rise in August

Import prices increased 0.7% on the month, driven by a 0.8% rise in non‑fuel imports, while fuel prices dipped 0.1% as lower natural‑gas costs offset a small uptick in petroleum.

Import prices were 7% higher year‑on‑year, the fastest annual increase since August 2022, with gains led by industrial supplies, capital goods and consumer goods.

Export prices rose 0.6%, rebounding after declines in June and July, with agricultural export prices up 0.5%, supported by higher corn and animal‑feed prices, while non‑agricultural export prices climbed 0.7% on stronger industrial supplies, capital goods and automotive products.

Export prices were 8.6% higher than a year earlier, with both agricultural and non‑agricultural categories contributing to the rise.

Overall, the August data showed firm price pressures across both imports and exports, underscoring persistent inflation in US trade flows.

Reporting by Iain Gilbert at Sharecast.com