US Export Prices Post First Monthly Decline in Over a Year

US export prices fell 1.3% month-over-month in July 2026, reversing a upwardly revised 0.7% decline in June, missing market expectations for a 0.2% increase. It marked the second consecutive monthly drop and the largest monthly decline since May 2023, driven by a 1.5% fall in nonagricultural export prices, as lower prices for industrial supplies and materials (-4%), reflecting lower prices for fuel, nonferrous metals, and chemicals, outweighed gains in capital goods (0.5%), consumer goods, excluding automotives (0.2%), and automotive products (0.7%). The latter marks its the largest monthly increase since April 2025. Meanwhile, agricultural export prices rose 1%, extending gains for a seventh straight month. On an annual basis, US export prices increased 8.2% in July.

US export prices fell 0.6% month-over-month in June 2026, reversing a downwardly revised 1.2% increase in May and exceeding expectations for a 0.4% decline. It marked the first monthly drop since May 2025, driven by a 0.7% fall in nonagricultural export prices, as lower prices for industrial supplies and materials outweighed gains in capital goods, consumer goods, and automotive products. Meanwhile, agricultural export prices rose 0.2%, extending gains for a sixth straight month, supported by higher prices for other foods and food preparations and nuts, which more than offset declines in soybean and corn prices. On an annual basis, US export prices increased 10.2% in June.

US export prices rose by 1.3% month-over-month in May 2026, following an upwardly revised 3.5% surge in the prior month and slightly above market forecasts of a 1.2% increase. This marked the sixth consecutive monthly advance for the index, albeit the softest since January. Nonagricultural export prices increased 1.2% in May, reflecting higher prices for nonagricultural industrial supplies and materials; capital goods; consumer goods, excluding automotives; and automotive vehicles, parts, and engines. Prices of agricultural exports rose 1.2%, largely driven by prices for dairy products and eggs, meat, and vegetables. On a yearly basis, export prices accelerated further, climbing by 11.2% in May, the most since August 2022, after a 8.8% jump in the previous month.