US June import prices +0.1% vs +0.3% m/m expected

• Prior 0.0%; revised to -0.4%
• Export prices +0.5% vs 0.0% m/m expected
• Prior -0.9%; revised to -0.6%

Import prices rose less than expected on the month and that comes despite a negative revision to the May numbers. But compared to the same month a year ago, import prices are still down 0.2% - similar to that seen last month. Meanwhile, export prices bounced back after the drop in May and are 2.8% higher on a year-on-year basis. That's the highest reading since January.

Looking at some of the details:

• Prices for import foods, feeds, and beverages decreased 0.8% in June
• Import capital goods prices were unchanged in June
• Import prices for consumer goods advanced 0.4% in June (highest monthly increase since Feb 2024)
• Non-agricultural export prices increased 0.5% in June
• Agricultural export prices increased 0.8% in June (highest monthly increase since Oct 2024); higher prices for meat and soybeans more than offset lower prices for fruit