Transmission of material in this release is embargoed until                                  USDL-15-1350
8:30 a.m. (EDT) Tuesday, July 14, 2015

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                              U.S. IMPORT AND EXPORT PRICE INDEXES - JUNE 2015

The price index for U.S. imports edged down 0.1 percent in June following a 1.2-percent increase the 
previous month, the U.S. Bureau of Labor Statistics reported today. The June drop was led by lower nonfuel 
prices, which more than offset an increase in fuel prices. U.S. export prices fell 0.2 percent in June, after 
rising 0.6 percent in May. 

Imports

All Imports: Overall import prices declined 0.1 percent in June, resuming a downward trend over the past 
year, after the index rose 1.2 percent in May. Prices for U.S imports also decreased over the past 12 months, 
falling 10.0 percent from June 2014 to June 2015. Overall import prices have not recorded a year-over-year 
advance since the index rose 0.9 percent for the year ended in July 2014. 

All Imports Excluding Fuel: Nonfuel import prices led the overall decrease in import prices in June, 
declining 0.2 percent. Nonfuel import prices have not recorded an advance since the index ticked up 0.1 
percent in July 2014. Lower prices for nonfuel industrial supplies and materials; and foods, feeds, and 
beverages drove the decline in nonfuel import prices in June. The price indexes for the major finished goods 
categories were mostly unchanged from May to June. The price index for nonfuel imports declined 2.3 
percent for the year ended in June. The decrease was led by a 6.7-percent drop in nonfuel industrial supplies 
and materials prices, although the price indexes for capital goods; automotive vehicles; consumer goods; 
and foods, feeds, and beverages all declined as well. 

Fuel Imports: Import fuel prices increased 0.7 percent in June following a 10.8-percent rise the previous 
month. Both the price indexes for petroleum and natural gas contributed to the June advance, rising 0.8 
percent and 0.3 percent, respectively. Prices for import fuel have not recorded a decline since the index fell 
1.9 percent in February. Despite the recent increases, the index declined 40.7 percent for the year ended in 
June. Petroleum prices decreased 41.3 percent over the past year, and prices for natural gas declined 42.7 
percent. 

Table A. Percent change in Import and Export Price Indexes, selected categories

Exports

All Exports: The price index for U.S. exports declined 0.2 percent in June, after rising 0.6 percent the 
previous month, which was the largest advance since the index rose 0.9 percent in March 2014. Falling 
agricultural prices drove the June decline, although nonagricultural prices also decreased. Export prices 
declined 5.7 percent over the past year, and have not recorded a 12-month advance since the index rose 0.4 
percent for the year ended in August 2014. 

Agricultural Exports: Export agricultural prices fell 1.5 percent in June following a 1.2-percent drop in 
May. The June decline was led by a 4.1-percent decrease in soybean prices, a 6.1-percent decline in fruit 
prices, and a 1.8-percent drop in meat prices. Those decreases more than offset a 4.5-percent advance in 
wheat prices. Agricultural prices have not recorded a 1-month rise since the index ticked up 0.1 percent in 
November 2014, and fell 16.7 percent over the past 12 months. 

All Exports Excluding Agriculture: Prices for nonagricultural exports edged down 0.1 percent in June, 
after a 0.7-percent advance the previous month. In June, lower nonagricultural industrial supplies and 
materials prices more than offset higher prices for consumer goods and automotive vehicles. The price index 
for nonagricultural exports declined 4.5 percent over the past year, driven by lower prices for 
nonagricultural industrial supplies and materials and consumer goods. 


                                    SELECTED JUNE HIGHLIGHTS

Import Prices

Imports by Locality of Origin: Import prices from China fell 0.1 percent in June, after a 0.3-percent drop 
in May. Prices for imports from China have not recorded a monthly advance since a 0.1-percent increase in 
December 2014, and declined 1.2 percent over the past 12 months. The price index for imports from Japan 
also decreased in June, falling 0.4 percent. Import prices from Japan last increased on a 1-month basis in 
March 2014, and declined 2.9 percent for the year ended in June. In contrast, prices for imports from 
Canada, the European Union, and Mexico all rose in June; up 0.4 percent, 0.2 percent, and 0.1 percent, 
respectively. 

Nonfuel Industrial Supplies and Materials: Prices for nonfuel industrial supplies and materials fell 0.5 
percent in June, after edging down 0.1 percent in May. The June decline was led by a 1.3-percent drop in 
unfinished metal prices and a 0.5-percent decrease in chemical prices. 

Finished Goods: Most of the major finished goods categories recorded little change in June. Automotive 
vehicles prices edged down 0.1 percent, driven by a 0.4-percent drop in automobile parts prices. The price 
indexes for capital goods and consumer goods recorded no change in June. 

Foods, Feeds, and Beverages: Prices for foods, feeds, and beverages declined 0.6 percent in June following 
a 0.2-percent increase in May. The June decrease was led by a 2.8-percent drop in fruit prices and a 1.7-
percent decline both in fish and shellfish prices and vegetable prices. 

Transportation Services: Import air passenger fares increased 8.9 percent in June, led by a 6.4-percent 
advance in European fares and a 9.1-percent rise in Asian fares. The June increase in overall import 
passenger fares was the largest monthly rise since a 10.7-percent advance in June 2013. Despite the 
advance, import air passenger fares declined 1.1 percent over the past year. Import air freight prices fell in 
June, decreasing 0.9 percent for the month and 1.1 percent over the past year. 

Export Prices

Nonagricultural Industrial Supplies and Materials: The price index for nonagricultural industrial 
supplies and materials exports declined 0.2 percent in June following a 2.2-percent rise in May. The June 
decrease was driven by a 1.5-percent decline in nonferrous metal prices and a 0.6-percent drop in chemical 
prices. 

Finished Goods: Finished goods prices rose overall in June. Prices for consumer goods increased 0.3 
percent, the largest monthly advance since a 0.3-percent rise in July 2014. Automotive vehicles prices also 
rose in June, ticking up 0.1 percent. The price index for capital goods recorded no change in June. 

Transportation Services: Export air passenger fares advanced 1.4 percent in June following a 2.8-percent 
rise in May. The June increase was led by an 8.4-percent advance in European fares, in contrast to May, 
when higher Asian fares were the largest contributor to the advance. Export air passenger fares declined 
15.9 percent over the past year. Prices for export air freight advanced 0.3 percent in June, and decreased 1.6 
percent over the past 12 months. 

Import and Export Price Index data for July 2015 are scheduled for release on Thursday, August 13, 2015 at 
8:30 a.m. (EDT). 

                                            TECHNICAL NOTE


Import and Export Merchandise and Services Price Indexes -- All indexes use a modified Laspeyres 
formula and are not seasonally adjusted.  Price indexes are reweighted annually, with a two-year lag in 
the weights.  Published series use a base year of 2000=100 where possible.  More detailed index series 
and additional information may be obtained at http://www.bls.gov/mxp, or by calling (202) 691-7101.

Merchandise Goods Classification Systems -- The merchandise price indexes are published using three 
classification systems.  Items are classified by end use according to the Bureau of Economic Analysis 
Classification System, by industry according to the North American Industry Classification System 
(NAICS), and by product category according to the Harmonized System (HS).  While classification by 
end use and product category are self-explanatory, some notes are in order for classifying items by 
industry.  In the NAICS imports and exports tables, items are classified by output industry, not input 
industry.  As an example, NAICS import index 326 (plastics and rubber products manufacturing) 
include outputs such as manufactured plastic rather than inputs such as petroleum.  The NAICS 
classification structure also matches the classification system used by the PPI (Producer Price Index) to 
produce the NAICS primary products indexes.

Import Price Indexes -- Products have been classified by the Harmonized Tariff Schedule of the United 
States Annotated (TSUSA).  Import prices are based on U.S. dollar prices paid by the U.S. importer.  
The prices are generally either "free on board" (f.o.b.) foreign port or "cost, insurance, and freight" 
(c.i.f.) U.S. port transaction prices, depending on the practices of the individual industry.  The index for 
crude petroleum is calculated from data collected by the U.S. Department of Energy.  

Export Price Indexes -- Products have been classified by the Harmonized Schedule B classification 
system of the U.S. Bureau of the Census.  The prices used are generally either "free alongside ship" 
(f.a.s.) factory or "free on board" (f.o.b.) transaction prices, depending on the practices of the individual 
industry.  Prices used in the grain index, excluding rice, are obtained from the U.S. Department of 
Agriculture.

Services Price Indexes -- Starting in September 2008 the Import Air Passenger Fares Indexes represent 
changes in the average revenue per passenger received by foreign carriers from U.S. residents and are 
calculated from data obtained from an airline consulting service.  These data include tickets sold by 
travel agencies and travel websites.  Tickets sold directly by the airlines are excluded, as are frequent 
flyer tickets generally.  Starting in January 2008 the Export Air Passenger Fares Indexes represent 
changes in the average revenue per passenger received by U.S. carriers from foreign residents and are 
calculated from data collected directly from airlines. These data include frequent flyer tickets and those 
sold by consolidators. Taxes and fees are included in the Import Air Passenger Fares Index and 
excluded from the Export Air Passenger Fares Index. The Air Freight Indexes are calculated from data 
collected directly from airlines. These data exclude mail and passenger baggage. The scope of the service 
being priced is the movement of freight from airport to airport only, and does not include any ground 
transportation or port service. The Air Freight Indexes are presented using two definitions: Balance of 
Payments (which represent transactions between U.S. and foreign residents) and International (which 
represent transactions inbound to and outbound from the U.S.). Fact sheets specifying detailed 
information for each services industry are available at http://www.bls.gov/mxp under "MXP 
Publications."

Import Indexes by Locality of Origin -- Prices used in these indexes are a subset of the data collected 
for the Import Price Indexes.  Beginning with January 2002, the indexes are defined by locality of origin 
using a nomenclature based upon the North American Industry Classification System (NAICS).  
Nonmanufactured goods are defined as NAICS 11 and 21 and manufactured goods are defined as 
NAICS 31-33. 

Revision Policy -- To reflect the availability of late reports and corrections by respondents, monthly data 
may be revised in each of the three months after original publication.  After three months, no further 
data revisions take place.  So, for example, data released in the January release will be subject to revision 
in the releases for February, March, and April.

Uses of the Data -- The primary use of the indexes is to deflate trade statistics, notably the foreign trade 
sector of the National Income and Product Accounts constructed by the Department of Commerce.  
Other published indexes are useful for general market analysis.  For trade in international services, 
Balance of Payments indexes are used for deflating National Income and Product Accounts, while 
International indexes are more appropriate for market analysis.  Merchandise and services indexes also 
can be used to study U.S. competitiveness and to compute price elasticities, and the merchandise import 
indexes by country or region of origin are useful in terms of trade analysis.

E-Mail Subscription -- The U.S. Import and Export Price Indexes news release is available through an 
e-mail subscription service at (http://www.bls.gov/bls/list.htm).

Additional Information -- More detailed data are available on the Import/Export Price Indexes home 
page at (http://www.bls.gov/mxp). For technical assistance in using the BLS Internet site, send e-mail to 
(labstat.helpdesk@bls.gov).  For Import/Export Price Index data requests, send e-mail to 
(mxpinfo@bls.gov). 

Information from this release will be made available to sensory impaired individuals upon request.  Voice 
phone: 202-691-5200; Federal Relay Service: 1-800-877-8339.