Business News | US Import Prices Surge 8.1% in 12 Months, Highest Rise Since July 2022
Get latest articles and stories on Business at LatestLY. US import prices increased 1.1 per cent in September, following a rise of 0.5 per cent in August. Higher prices for both fuel and non-fuel imports contributed to the monthly increase, the BLS said.
Washington, DC [US], October 16 (ANI): Prices of goods imported into the United States rose 8.1 per cent in the 12 months till September 2026, marking the largest annual increase since July 2022, according to data released by the US Bureau of Labor Statistics (BLS).
US import prices increased 1.1 per cent in September, following a rise of 0.5 per cent in August. Higher prices for both fuel and non-fuel imports contributed to the monthly increase, the BLS said.
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The 8.1 per cent annual rise was the largest 12-month increase since import prices rose 8.8 per cent in the year ended July 2022.
The data also highlighted that the fuel import prices rose 4.8 per cent in September after declining 0.2 per cent in August and 6.8 per cent in July.
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Within the fuel category, prices of petroleum and petroleum products increased 4.6 per cent during September, while natural gas import prices rose 1.6 per cent.
On an annual basis, fuel import prices increased 34.5 per cent between September 2025 and September 2026. Prices of imported petroleum and petroleum products rose 35.4 per cent during the same period.
Natural gas recorded a sharper increase, with import prices rising 96.5 per cent over the 12 months to September. This was the largest annual increase in natural gas import prices since the index rose 149.5 per cent in the year ended June 2022.
The data also pointed out that the increase in non-fuel import prices contributed to the overall rise. Prices of non-fuel imports increased 0.7 per cent in September and were up 6.0 per cent compared with September 2025.
According to the BLS, non-fuel import prices have not declined on a monthly basis since August 2025.
Alongside higher import prices, prices of goods exported by the United States increased 2.2 per cent in September, following a rise of 1.2 per cent in August.
The data also showed an increase in prices of goods imported from China. Import prices from China rose 0.7 per cent in September, the largest monthly increase since December 2021. Over the 12 months to September 2026, prices of imports from China increased 3.1 per cent.
Prices of imports from Japan rose 0.6 per cent in September and increased 1.1 per cent year-on-year. Import prices from the European Union rose 0.3 per cent during September, while prices of imports from Mexico and Canada increased 0.6 per cent and 1.3 per cent, respectively.
The BLS data showed that the rise in US import prices was spread across fuel and non-fuel categories, while export prices also recorded significant annual gains. (ANI)
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