December 2024 U.S. Import and Export Price Indexes — 2025-01-16

U.S. import prices advanced 0.1 percent in December following a 0.1-percent increase in each of the previous 2 months, the U.S. Bureau of Labor Statistics reported today. Higher fuel and nonfuel prices in December contributed to the overall rise in import prices. Prices for U.S. exports increased 0.3 percent in December, after being unchanged the previous month. Prices for U.S. imports ticked up 0.1 percent for the third consecutive month in December. U.S. import prices have not risen by more than 0.1 percent since a 0.9-percent advance in April 2024. The price index for U.S. imports advanced 2.2 percent over the past 12 months, the largest over-the-year increase since the index rose 3.2 percent for the year ended December 2022. (See table 1.) Fuel Imports: The price index for import fuel rose 1.4 percent in December, the largest monthly advance since the index increased 3.9 percent in April 2024.