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Friday, February 10, 2017

USA Economy - Prices for U.S. exports advanced 0.1 percent in January, after rising 0.4 percent the previous month..- bls


U.S. import prices advanced 0.4 percent in January, the U.S. Bureau of Labor Statistics reported today, following a 0.5-percent increase in December. For both months, a rise in fuel prices more than offset declining nonfuel prices. Prices for U.S. exports advanced 0.1 percent in January, after rising 0.4 percent the previous month.

All Imports: Import prices increased 0.4 percent in January following a 0.5-percent advance in December. The price index for overall imports has trended up since March 2016 and rose 3.7 percent over the past year. The advance between January 2016 and January 2017 was the largest 12-month rise since the index increased 5.1 percent in February 2012. 

Fuel Imports: Prices for import fuel rose 5.8 percent in January following an increase of 6.6 percent in December. In January, higher prices for both petroleum and natural gas contributed to the overall rise in fuel prices. Petroleum prices rose 5.2 percent and natural gas prices increased 12.2 percent in January, after both indexes advanced in the previous month. Import fuel prices increased 57.6 percent over the past 12 months, the largest over-the-year rise since the index advanced 61.7 percent in March 2010. Petroleum prices rose 60.9 percent for the year ended in January and natural gas prices advanced 45.0 percent over the same period. 

All Imports Excluding Fuel: In contrast to fuel prices, import nonfuel prices decreased 0.2 percent in January, after edging down 0.1 percent in December and November. The price index for nonfuel imports has not recorded a monthly increase since a 0.3-percent rise in July 2016. The January drop was led by lower prices for foods, feeds, and beverages and each of the major finished goods categories, which more than offset higher prices for nonfuel industrial supplies and materials. Nonfuel import prices recorded no change over the past 12 months.

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