US Export Prices Gain Traction

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.

Export prices in the US were unchanged in September from August 2025, following a downwardly revised 0.1% rise in the previous period and compared to forecasts of 0.1%. Nonagricultural industrial supplies and materials prices flattened as higher prices for nonferrous metals and petroleum offset lower prices for natural gas and chemicals. Also, capital goods prices recorded no change as an increase in computers, peripherals, and semiconductors and for industrial and service machinery offset lower prices for civilian aircraft, aircraft engines and parts. On the other hand, export cost for automotive vehicles and consumer goods rose 0.2% and cost for agricultural exports increased 0.3%, as higher prices for fruit more than offset lower prices for nuts and meat. Year-on-year, export prices went up 3.8%, the largest over-the-year advance since a 4.6% rise for the year ended December 2022.