US Import Prices Unchanged in December

U.S. import prices were unexpectedly flat in December as the cost of petroleum fell marginally, still showing no signs of imported inflation pressures.

November’s import prices were revised to show a 0.9 percent decline rather than the previously reported 0.6 percent, the Labor Department said on Tuesday.

Economists polled by Reuters had forecast import prices rising 0.3 percent in December. In the 12 months through December, import prices fell 1.3 percent.

Import prices excluding petroleum were also flat in December after edging up 0.1 percent in November. Compared to December last year, they were down 1.3 percent.

The Labor Department report also showed export prices rose 0.4 percent in December after inching up 0.1 percent in November.

via Import prices flat in December | Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza