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Import prices from Canada down 10.3 percent over year ended February 2023

March 23, 2023

U.S. import prices declined 1.1 percent from February 2022 to February 2023, the first 12-month decrease since the index fell 0.3 percent in December 2020 and the largest over-the-year drop since a 1.3-percent decline in September 2020. Prices for imports from China declined 0.4 percent over the past 12 months, the largest over-the-year decrease since July 2020.

U.S. import price indexes by locality of origin, 12-month percent change
Month Canada European Union France Germany United Kingdom Latin America Mexico Pacific Rim China Japan

Feb 2018

4.7% 3.3% 6.1% -1.0% 2.5% 5.3% 4.5% 0.4% 0.2% -0.1%

Mar 2018

5.3 3.2 5.8 -1.1 2.9 5.1 3.9 0.5 0.2 -0.1

Apr 2018

7.0 3.8 6.5 -1.3 3.8 5.0 1.8 0.8 0.3 0.2

May 2018

9.7 4.1 6.9 -1.1 4.3 6.2 1.8 1.0 0.4 0.2

Jun 2018

11.5 3.4 5.1 -1.8 4.3 6.5 1.8 1.0 0.5 0.2

Jul 2018

11.5 3.5 4.6 -2.2 3.8 6.2 1.4 0.8 0.3 0.6

Aug 2018

9.1 2.7 3.0 -2.5 3.2 4.9 1.0 0.7 0.1 1.0

Sep 2018

6.0 2.2 2.4 -2.8 2.6 4.3 0.4 0.7 0.4 0.8

Oct 2018

5.8 2.5 2.3 -3.0 3.1 5.1 1.2 0.7 0.2 1.3

Nov 2018

-4.1 1.9 1.3 -3.0 1.4 2.3 0.8 0.6 -0.2 1.2

Dec 2018

-9.1 1.4 0.8 -2.8 0.9 -0.7 -0.2 0.5 -0.2 1.0

Jan 2019

-2.8 0.8 -0.2 0.6 0.3 -3.2 -2.2 0.2 -0.5 0.5

Feb 2019

5.8 0.4 -0.7 0.2 -0.1 -2.1 -1.2 0.0 -0.8 0.4

Mar 2019

9.8 0.5 -0.3 0.6 0.1 -1.3 -1.0 -0.2 -1.0 0.3

Apr 2019

9.9 -0.1 -0.3 0.0 0.3 -1.3 0.2 -0.7 -1.2 0.1

May 2019

6.6 -0.1 -0.7 -0.1 -0.2 -1.5 0.2 -1.0 -1.4 0.1

Jun 2019

1.7 -0.3 -1.0 0.2 -1.1 -2.3 -0.9 -1.2 -1.6 0.2

Jul 2019

1.4 -0.1 -0.5 0.4 -0.2 -2.7 -0.6 -1.2 -1.7 0.0

Aug 2019

1.8 -0.3 -0.6 0.4 -0.2 -2.8 -1.0 -1.2 -1.7 0.2

Sep 2019

4.2 -0.1 -0.7 0.7 0.2 -3.7 -2.0 -1.3 -1.9 0.2

Oct 2019

2.8 -0.4 -1.0 0.6 -0.2 -5.9 -2.8 -1.4 -1.8 0.2

Nov 2019

11.2 0.1 0.2 0.6 1.3 -4.9 -3.2 -1.5 -1.9 0.3

Dec 2019

15.5 0.4 0.4 1.0 1.9 -2.0 -2.1 -1.2 -1.7 0.3

Jan 2020

5.8 0.7 0.6 1.0 2.0 -0.6 -0.9 -1.1 -1.4 0.4

Feb 2020

-6.2 0.3 0.3 1.1 2.7 -2.6 -1.4 -1.1 -1.4 0.3

Mar 2020

-16.2 -0.1 -0.3 0.7 2.6 -4.9 -2.0 -1.2 -1.4 0.2

Apr 2020

-27.3 -0.8 -1.5 1.0 -3.0 -8.0 -3.9 -0.9 -1.1 0.0

May 2020

-26.0 -1.2 -1.6 0.4 -2.4 -7.2 -2.9 -0.8 -1.1 -0.3

Jun 2020

-12.0 -0.3 -0.5 0.4 -1.7 -4.7 -0.8 -0.5 -0.9 0.0

Jul 2020

-8.7 0.2 0.3 0.3 -2.0 -3.0 -0.4 -0.3 -0.5 -0.1

Aug 2020

-3.3 0.9 0.8 0.8 -1.2 -1.0 0.9 -0.1 -0.2 -0.3

Sep 2020

-3.9 1.7 1.5 1.7 -0.2 -1.5 1.1 0.2 0.0 -0.1

Oct 2020

-3.1 1.8 1.6 1.7 -0.2 -0.9 1.1 0.3 0.0 0.1

Nov 2020

-4.3 1.4 1.3 1.7 -0.4 -0.3 1.2 0.5 0.3 0.1

Dec 2020

0.1 2.1 2.0 1.8 0.9 0.3 1.0 0.6 0.5 0.4

Jan 2021

6.2 2.5 1.3 2.5 2.1 1.2 1.8 1.1 0.9 0.6

Feb 2021

15.5 3.6 4.0 2.8 2.7 3.3 2.8 1.4 1.4 0.7

Mar 2021

31.3 5.0 4.7 4.1 4.8 7.2 4.4 1.9 1.8 0.9

Apr 2021

51.5 5.7 5.5 3.7 9.8 11.2 6.5 2.2 2.1 1.7

May 2021

55.7 6.6 6.2 4.7 10.4 10.3 4.8 2.7 2.7 2.1

Jun 2021

41.6 6.4 6.1 4.3 9.3 10.5 4.5 2.9 3.1 1.9

Jul 2021

35.1 6.6 5.8 4.8 8.3 9.6 4.4 3.3 3.6 2.3

Aug 2021

24.4 6.2 5.7 4.5 8.5 8.7 4.1 3.6 3.8 2.4

Sep 2021

24.2 5.5 5.6 3.3 6.8 9.7 5.0 3.8 4.0 2.3

Oct 2021

31.6 5.2 5.9 3.5 6.4 12.2 6.2 4.4 4.4 2.0

Nov 2021

34.6 5.7 6.5 4.0 7.1 13.0 7.6 4.6 4.5 2.1

Dec 2021

25.5 4.9 5.8 3.6 6.0 11.3 6.7 4.8 4.8 1.9

Jan 2022

26.6 5.0 6.6 3.4 6.1 12.6 8.2 5.2 4.8 1.7

Feb 2022

28.1 5.5 6.0 3.8 5.5 12.7 8.5 5.2 4.8 1.8

Mar 2022

32.9 5.8 7.2 3.4 6.3 13.9 9.0 5.6 4.9 2.2

Apr 2022

31.2 6.1 7.3 4.5 5.4 14.4 8.7 5.6 4.6 1.9

May 2022

28.5 5.8 6.6 4.0 5.1 14.6 9.7 5.2 4.0 1.9

Jun 2022

25.5 6.8 8.0 5.1 6.7 12.9 9.5 4.9 3.3 1.8

Jul 2022

20.3 5.7 5.1 5.8 6.4 10.6 8.7 3.9 2.5 1.3

Aug 2022

19.0 4.9 4.5 5.1 4.8 8.6 5.9 3.2 2.1 1.2

Sep 2022

15.9 4.2 4.4 4.6 3.7 7.4 5.0 2.6 1.9 1.3

Oct 2022

7.4 4.3 4.2 6.3 4.0 5.4 4.1 2.3 2.0 2.2

Nov 2022

3.4 2.9 3.1 5.6 1.4 4.8 3.6 1.9 1.7 2.0

Dec 2022

4.5 4.3 3.4 5.9 3.0 4.0 4.0 1.3 0.9 2.1

Jan 2023

-1.6 4.2 4.8 5.3 3.0 1.8 2.2 0.3 -0.1 2.1

Feb 2023

-10.3 3.2 3.5 5.1 1.2 1.2 1.5 -0.1 -0.4 1.4

Prices for imports from Japan rose 1.4 percent over the past year, despite dropping 0.5 percent in February 2023. Prices for imports from Canada decreased 10.3 percent over the past year, the largest 12-month decline since June 2020. In contrast, import prices from the European Union rose 3.2 percent over the year, while import prices from Mexico rose 1.5 percent.

These data are from the International Price program and are not seasonally adjusted. To learn more, see "U.S. Import and Export Price Indexes — February 2023." We also have more charts on U.S. import and export prices. Import price changes may be revised in each of the 3 months after original publication.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import prices from Canada down 10.3 percent over year ended February 2023 at https://www.bls.gov/opub/ted/2023/import-prices-from-canada-down-10-3-percent-over-year-ended-february-2023.htm (visited May 26, 2024).

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