Import prices post surprise gain as costs of goods from China hit highest since 2008
Port workers unload shipping containers from a ship at Port Everglades on April 20, 2026 in Fort Lauderdale, Florida.
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The cost of goods brought into the United States rose unexpectedly in June, as the price of goods from China reached its largest monthly level in more than 18 years, the Bureau of Labor Statistics reported Friday.
Import prices It rose 0.3% month over month, as declines in energy were more than offset by increases elsewhere. On an annual basis, prices increased by 7.7%, the biggest increase since August 2022. Economists polled by Dow Jones had expected a decline of 0.8% in June.
The report noted that artificial intelligence development could hit prices as the costs of computers, peripherals and semiconductors rise.
Beyond those areas, industrial and utility machinery increased costs, offsetting a 0.4% decline in fuels and lubricants, the BLS said. The group recorded an increase of 12.6% in May.
China also played a role, with import prices rising 0.9%, the biggest monthly increase since January 2008; This is a possible reflection of tariff effects. The 12-month increase was 1.3%, the largest annual increase since the period between November 2021 and November 2022. Export prices to China actually fell 0.2% in June, but rose 7.4% year-on-year; the largest monthly increase dates back to August 2022.
Overall, the report showed that the decline in oil costs helped lower prices in June, with inflation showing signs of widening beyond energy as businesses face a variety of rising costs.
Earlier this week, the BLS reported that both consumer and wholesale prices fell due in large part to falling energy costs as tensions between the United States and Iran briefly eased.
Export prices fell 0.6% overall, the first monthly decline since May 2025. However, export prices increased by 10.2% annually.
