Labor Statistics reported today. Lower fuel and nonfuel prices in July contributed to the decline in U.S. Prices for U.S. imports declined on a monthly basis in July for the first time since December 2021, decreasing 1.4 percent. The decline was the largest drop in import prices since the index fell 2.6 percent in April 2020. U.S. import prices rose 8.8 percent over the past 12 months, the smallest over-the-year increase since the index advanced 7.1 percent from March 2020 to March 2021. (See table 1.) Fuel Imports: Import fuel prices declined 7.5 percent in July following 6.2-percent increases in June and May. The ... (full story)