The U.S. Bureau of Labor Statistics reported that U.S. import prices rose 0.7 percent in August 2026, reversing a 0.3-percent decline in July. According to the agency, higher nonfuel import prices more than offset lower fuel import prices during the month.

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Export prices increased 0.6 percent in August after falling 1.4 percent in July. Over the 12 months ended in August, import prices advanced 7.0 percent, the largest year-over-year gain since a 7.7-percent rise for the period ended August 2022, while export prices rose 8.6 percent.

Fuel and Nonfuel Imports

Fuel import prices edged down 0.1 percent in August following a 6.6-percent decrease in July and a 3.7-percent decline in June. Over the three months ended in August, fuel prices fell 10.2 percent, the largest quarterly drop since a 10.6-percent decline for the three months ended May 2025. In August, a 1.0-percent decrease in natural gas prices more than offset a 0.1-percent uptick in petroleum and petroleum products prices.

Despite recent monthly declines, fuel import prices were up 26.8 percent from August 2025 to August 2026. Petroleum and petroleum products prices rose 27.3 percent over the same period, while natural gas prices surged 102.6 percent.

Nonfuel import prices increased 0.8 percent in August after a 0.3-percent advance in July. Higher prices for nonfuel industrial supplies and materials, capital goods, and consumer goods excluding automotives drove the gain. Over the 12 months ended in August, nonfuel import prices rose 5.5 percent, the largest year-over-year increase since a 5.9-percent rise for the period ended May 2022.

Import Categories

Foods, feeds, and beverages import prices ticked up 0.1 percent in August after a 0.7-percent increase in July and a 0.1-percent decrease in June. Higher prices for fish and shellfish, bakery and confectionery products, cane and beet sugar, and distilled alcoholic beverages more than offset lower prices for other animal and vegetable preparations and meat.

Nonfuel industrial supplies and materials import prices rose 2.0 percent in August after a 0.9-percent decline in July, driven by higher prices for finished metals shapes and advanced manufacturing as well as finished nonmetals.

Among finished goods, capital goods import prices increased 0.9 percent, with higher prices for computers, peripherals, and semiconductors; industrial and service machinery; and telecommunications equipment. Consumer goods excluding automotives import prices rose 0.5 percent, while automotive vehicles, parts, and engines prices were unchanged.

Exports

Agricultural export prices advanced 0.5 percent in August following a 0.4-percent increase in July, and the index has not declined on a monthly basis since December 2025. Higher corn and animal feed prices more than offset lower meat prices. Over the 12 months ended in August, agricultural export prices rose 5.8 percent, the largest year-over-year increase since a 9.3-percent rise for the period ended December 2022.

Nonagricultural export prices rose 0.7 percent in August after declines of 1.6 percent in July and 0.8 percent in June. Higher prices for nonagricultural industrial supplies and materials, capital goods, and automotive vehicles, parts, and engines drove the increase. Over the 12 months ended in August, nonagricultural export prices rose 8.9 percent.

Nonagricultural industrial supplies and materials prices increased 1.4 percent in August after a 4.0-percent decrease in July, as higher petroleum and petroleum products prices and nonferrous and other metals prices more than offset lower natural gas prices.

Capital goods export prices rose 0.2 percent, led by higher prices for telecommunications equipment, industrial and service machinery, and computers, peripherals, and semiconductors. Automotive vehicles, parts, and engines prices increased 0.3 percent, while consumer goods excluding automotives prices were unchanged.

Imports and Exports by Locality

Import prices from China rose 1.0 percent in August, the largest monthly advance since the index was first published in January 2004, driven by higher prices for computer and electronic product manufacturing. The index was up 3.0 percent over the past 12 months. Import prices from Japan increased 0.2 percent in August after decreases in July and June, and rose 1.1 percent over the past 12 months. Prices for imports from the European Union and Mexico increased 0.9 percent and 0.1 percent, respectively, while import prices from Canada decreased 0.8 percent after a 2.3-percent decline in July.

Export prices to China decreased 1.1 percent in August, the largest monthly decline since a 2.6-percent drop in June 2025, though the index advanced 4.4 percent over the past 12 months. Export prices to Japan fell 0.4 percent in August after a 0.8-percent decline in July and a 0.6-percent increase in June, and rose 6.1 percent over the past 12 months. Export prices to the European Union increased 0.6 percent, and prices to Mexico rose 1.3 percent following a 0.7-percent gain the previous month. Export prices to Canada advanced 1.6 percent after declines in July and June.

Terms of Trade

The U.S. terms of trade index with China decreased 2.1 percent in August following a 0.7-percent decline in July, as lower export prices to China and higher import prices from China contributed to the decrease. The index with Japan fell 0.5 percent, and the index with the European Union decreased 0.4 percent after a 1.8-percent drop in July. The terms of trade indexes with Canada and Mexico increased 2.4 percent and 1.1 percent, respectively.

Services

Import air passenger fares decreased 11.2 percent in August after an 11.0-percent decline in July, the largest monthly drop since a 14.3-percent decline in July 2025. Lower European and Asian fares more than offset higher Latin American and Caribbean fares. Despite recent declines, import air passenger fares rose 13.2 percent over the past year. Import air freight prices increased 1.8 percent in August and advanced 27.0 percent over the past 12 months.

Export air passenger fares decreased 4.3 percent in August following a 0.1-percent increase the previous month, as lower European and Asian fares more than offset higher Latin American and Caribbean fares. The index rose 5.7 percent from August 2025 to August 2026, the largest year-over-year rise since a 9.1-percent advance for the 12 months ended April 2023. Export air freight prices rose 2.8 percent in August and increased 18.1 percent over the past year, the largest year-over-year increase since an 18.8-percent advance for the 12 months ended September 2022.

The U.S. Import and Export Price Indexes news release for September is scheduled to be published on Friday, October 16, 2026.

https://www.indexbox.io/blog/us-import-prices-rise-07-in-august-2026-export-prices-up-06/