August 15, 2005 (The Editor’s Desk is updated each business day.)

Import prices in July 2005

Prices for U.S. imports rose 1.1 percent in July after a similar increase of 1.0 percent in June. For the second consecutive month, higher petroleum prices more than offset a decrease in nonpetroleum prices.

[Chart data—TXT]

The 1.1-percent increase in import prices was the sixth advance in the past seven months. Petroleum prices, up 6.6 percent in July, again led overall import prices higher. The increase followed a 7.9-percent advance in June. The July price index for petroleum imports was at its highest level since publication began in 1982.

In contrast, nonpetroleum prices fell a modest 0.1 percent in July, the third decline in a row. The July decrease in nonpetroleum import prices was led by a decline in capital goods prices attributable to a decline in prices for computers, peripherals, and semiconductors. 

These data are from the BLS International Price program. Import and export price data are subject to revision. To learn more about changes in the prices of U.S. imports and exports, see U.S. Import and Export Price Indexes - July 2005 (PDF) (TXT), news release USDL 05-1516.