📊 Summary of the U.S. Import and Export Price Indexes Report

The U.S. Import and Export Price Indexes report for September 2025 provides a detailed look at recent trends in the prices of goods and services traded between the United States and the rest of the world. This report is important for understanding inflationary pressures, trade competitiveness, and the broader economic environment.

Key Highlights from the September 2025 Report:

  1. Overall Import Prices
    • 🟢 Import prices showed no change (0.0%) in September 2025, following a 0.1% increase in August and a 0.3% rise in July.
    • 🟢 Over the year (September 2024 to September 2025), import prices increased by 0.3%, marking the first annual rise since March 2025.
  2. Fuel vs. Nonfuel Imports
    • ⛽ Fuel import prices fell by 1.5% in September, driven by declines in petroleum (-1.5%) and natural gas (-3.0%). Over the year, fuel import prices dropped 4.0%, with petroleum down 5.1% but natural gas up a striking 62.9%.
    • 🏭 Nonfuel import prices rose 0.2% in September and 0.8% over the year, mainly due to higher prices for nonfuel industrial supplies, materials, and capital goods.
  3. Import Prices by Category
    • 🍎 Foods, feeds, and beverages: Prices declined 0.8% in September, continuing a downward trend.
    • 🛒 Consumer goods: Prices increased 0.4% in September.
    • 🚗 Automotive vehicles: Prices were unchanged.
  4. Export Prices
    • 🚢 Export prices were unchanged in September, after a 0.1% increase in August.
    • 🚀 Over the year, export prices rose 3.8%, the largest annual increase since December 2022.
  5. Export Prices by Category
    • 🌾 Agricultural exports: Prices increased 0.3% in September and 4.4% over the year, led by higher prices for fruit, nuts, and meat.
    • 🏭 Nonagricultural exports: Prices were flat in September but up 3.7% over the year, driven by industrial supplies, capital goods, and consumer goods.
  6. Trade by Locality
    • 🌏 Imports from China: Prices rose 0.8% in September (largest since 2008), but fell 2.6% over the year.
    • 🇯🇵 Imports from Japan: Up 0.7% in September and 2.0% over the year.
    • 🇪🇺 Imports from the EU: Up 0.4% in September.
    • 🇨🇦 Imports from Canada: Down 0.8% in September.
    • 🌍 Exports to China: Up 1.4% in September and 3.9% over the year.
    • 🇯🇵 Exports to Japan: Up 1.7% in September and 6.9% over the year.
  7. Services
    • ✈️ Import air passenger fares: Rose sharply by 14.0% in September, but down 2.6% over the year.
    • 📦 Import air freight prices: Up 1.7% in September, but down 12.9% over the year.
    • ✈️ Export air passenger fares: Fell 1.3% in September and 3.9% over the year.
    • 📦 Export air freight prices: Down 2.8% in September and 4.6% over the year.
  8. Trade Balance Context
    • 💵 The average U.S. goods and services trade deficit for the three months ending in September was $63.1 billion, down $2.1 billion from the previous period.
    • 📈 Average exports increased by $3.2 billion, while average imports rose by $1.1 billion.

💡 Summary:

The latest U.S. Import and Export Price Indexes report shows that both import and export prices were flat in September 2025, but export prices have risen more strongly over the past year than import prices. Fuel import prices continue to decline, while nonfuel imports and most export categories are seeing moderate price increases. The trade deficit has narrowed compared to last year, with exports growing faster than imports. These trends suggest mild inflationary pressures from trade and a slightly improved U.S. trade position, especially as export prices outpace import prices. This could impact inflation, business costs, and the competitiveness of U.S. goods abroad.

References:

U.S. Import and Export Price Indexes, US Bureau of Labor Statistics

Find out how the US Import and Export Price Indexes report impacts you and your business.