US Import Prices Rise 8.1% Annually Through September

The Bureau of Labor Statistics reported that prices for goods imported into the United States rose 1.1% in September, marking the second consecutive monthly increase and exceeding economist forecasts of 0.8%. On an annual basis, import prices climbed 8.1% for the 12 months ending in September 2026, the largest yearly increase since July 2022.

Energy costs drove the majority of the growth. Petroleum import prices rose 4.6% in September and 35.4% year-on-year, while natural gas prices surged 1.6% monthly and 96.5% annually. Non-fuel imports also increased by 0.7% in September and 6.0% over the year, with growth led by capital goods, industrial supplies, consumer goods, and automotive components.

Regional data shows that imports from China rose 0.7% in September, the highest monthly gain since December 2021. Other price increases were noted for imports from Canada, which rose 1.3%, as well as Mexico and Japan, both at 0.6%, and the European Union at 0.3%. Additionally, the agency noted that US export prices increased 2.2% in September.