US Export Prices Gain Traction

US export prices rose by 0.6% in January 2026, matching December's revised reading and surpassing forecasts of a 0.3% increase. Nonagricultural export prices increased 0.7%, after rising 0.7% in December, reflecting higher prices for capital goods, nonagricultural industrial supplies and materials, consumer goods, and automotive vehicles. The price index for agricultural exports increased 0.2%, following no change in December. Higher prices for export other foods and food preparations as well as corn more than offset lower prices for export fruit and meat. Year-on-year, export prices advanced by 2.6%, slowing from an upwardly revised 3.4% rise in December.

Prices of goods being exported from the United States inched higher by 0.3% from the previous month in December of 2025. From the previous year, prices of exported goods were 3.1% higher, inching down from the 3.2% increase in November to reflect the softest increase since July amid the half of data in selected months through the end of the year due to the US government shutdown. Despite the slowdown, the annual growth rate remained sharply higher than averages since late 2022 to reflect that US companies refrained from lowering their prices despite some retaliatory tariffs by the main US trading partners.

US export prices increased 0.5% over the two months through November 2025, after being unchanged in September, according to delayed data from the Bureau of Labor Statistics. Separate figures for October and November were unavailable due to last fall’s federal government shutdown. Over the two-month period, agricultural exports prices rose 1.3%, while cost for nonagricultural exports rose 0.4%. On a year-over-year basis, export prices advanced 3.3% in November. Agricultural export prices rose 2.6%, reflecting higher prices for vegetables, nuts, and fruit. Nonagricultural export prices advanced 3.3%, driven by higher prices for nonagricultural industrial supplies and materials, capital goods, and consumer goods.