URGENT: US June imports flat, exports down

US June import prices remained steady after a 0.2 per cent decline in May, according to data released by the US Bureau of Labour Statistics on Tuesday.

This stability was due to lower fuel import prices balancing out higher nonfuel import prices. Specifically, fuel import prices fell by 1.0 per cent, marking the first decrease since December 2023, with petroleum prices dropping by 1.2 per cent and natural gas prices by 4.5 per cent.

In contrast, non-fuel import prices saw a 0.2 per cent increase, driven by higher costs for industrial supplies, materials, foods, feeds, and beverages, despite a slight dip in consumer goods prices.

Export prices, on the other hand, declined by 0.5 per cent in June following a 0.7 per cent drop in May. This consistent downward trend indicates a broader decline in the prices of US exports.

Attribution: Bureau of Labour Statistics