Import prices rose 0.1% MoM in June, below expectations of 0.3% MoM, while YoY growth remained steady at 1.2%. Fuel import prices fell -0.7% MoM and are down -15.7% YoY, continuing a four-month streak of declines.

• Nonfuel imports increased 0.1% MoM and 1.2% YoY, essentially unchanged from recent months.
• Industrial supplies & materials ex-fuels rose 0.7% MoM, while inputs for durable goods jumped 1.2% MoM.
• These input segments have seen strong quarterly gains: 7.6% annualized in Q1 and 5.0% in Q2.

Export prices rose 0.5% MoM in June, a notable beat over expectations for no change, and were supported by broad strength across categories.

• Agricultural export prices rose 0.8% MoM, the largest gain since November 2024.
• Non-agricultural export prices also increased 0.5% MoM.
• Consumer goods export prices climbed 0.8% MoM, the biggest monthly rise since January 2023.