US import prices decreased and export prices increased in June, the US Department of Labor reported on Friday.

Prices for all imports fell 0.4 percent in June, after increasing 0.9 percent in May and 0.5 percent in April. The June decline was the largest monthly drop since the index decreased 0.5 percent in February 2016. Despite the downturn in June, overall import prices advanced 4.3 percent between June 2017 and June 2018.

Import fuel prices decreased 0.7 percent in June, after a 6.1-percent advance in May and a 3.9-percent rise in April.

Prices for nonfuel imports decreased 0.3 percent in June following a 0.2-percent increase in May. The price index for nonfuel imports advanced 1.5 percent for the year ending June, driven by higher prices for nonfuel industrial supplies and materials, capital goods, and consumer goods.

Prices for all exports increased 0.3 percent in June, after rising 0.6 percent in the previous month, advancing 5.3 percent over the past 12 months, the largest over-the-year increase since the index rose 6.3 percent in October 2011.

Agricultural export prices fell one percent in June following a 1.6-percent increase in May and a 1.1-percent decrease in April. The largest contributors to the June decline were a 2.6-percent drop in soybeans prices and a 3.1-percent decrease in corn prices.

Despite the declines in June and April, export agricultural prices increased 5.4 percent over the past 12 months.

The price index for nonagricultural exports increased 0.4 percent in June, after advancing 0.6 percent in May. Nonagricultural prices have not recorded a one-month decline since the index edged down 0.1 percent in October 2017. Overall nonagricultural prices rose 5.4 percent over the past year, the largest 12-month advance for the index since prices increased 5.8 percent in October 2011.