July 11, 2002 (The Editor’s Desk is updated each business day.)

Import prices decline in June

The U.S. Import Price Index decreased 0.6 percent in June. The decline was attributable to a turnaround in prices for imported petroleum, which were down 6.6 percent in June.

[Chart data—TXT]

The drop in the price index for imported petroleum was the first decline in this component since December 2001; during the first five months of 2002, the index had jumped 47.1 percent. For the 12 months ended in June, however, petroleum prices were down 7.9 percent. 

The June increase in the price index for nonpetroleum imports was the third rise over the past four months. For the year ended in June, however, the index was down 2.6 percent.

These data are a product of the BLS International Price program. Learn more in "U.S. Import and Export Price Indexes - June 2002," (PDF) (TXT) news release USDL 02-385. Note: import price data are subject to revision in each of the three months after original publication.