U.S. import prices were unchanged in January, the U.S. Bureau of Labor Statistics reported, following 0.2% advances the 2 previous months. In January, falling fuel prices offset increasing prices for non-fuel imports. Prices for U.S. exports advanced 0.7% in January, after declining 0.2% the previous month.
Import prices were unchanged in January, after rising in December and November. Prices for U.S. imports rose 0.3% from January 2019 to January 2020. The price index for overall imports advanced on a 12-month basis for the second consecutive month, after not recording an over-the-year increase since the index rose 0.1% for the year ended March 2019.
U.S. export prices rose 0.7% in January, the largest monthly advance since the index increased 0.7% in March. In January, rising prices for both agricultural and non-agricultural exports contributed to the overall increase. Prices for exports also advanced on a 12-month basis, increasing 0.5% in January. The rise in January was the first 12-month advance since the index increased 0.2% for the year ended in April.