Import and export prices rise less than expected in June

• June Import/Export Prices: Import prices +1.0% M/M vs. +1.2% consensus and +1.4% prior (revised from +1.1%).
• Prices for import fuel rose 4.7% in June following a 5.5% increase in May.
• Nonfuel import prices increased 0.7% in June after a 0.9% rise in May.
• Export prices: +1.2% M/M vs. +1.3% consensus and +2.2% prior.
• The price index for U.S. exports hasn't posted a monthly decline since a 3.5% drop in April 2020.
• In June, higher prices for both agricultural and nonagricultural exports contributed to the overall advance in export prices.
• On a Y/Y basis, U.S. export prices rose 16.8%.