December 2019 U.S. Import and Export Price Indexes — 2020-01-16

Prices for U.S. imports advanced 0.3 percent in December, the U.S. Bureau of Labor Statistics reported today, after ticking up 0.1 percent the previous month. The December rise was driven by increasing fuel prices. U.S. export prices declined 0.2 percent in December following a 0.2-percent advance in November. The price index for U.S. imports rose 0.3 percent in December, the largest monthly advance since the index increased 0.6 percent in March. Prices for imports rose 0.5 percent in 2019, after decreasing 0.9 percent in 2018. The 12-month advance in December was the largest over-the-year increase since the index rose 0.7 percent between November 2017 and November 2018. (See table 1.) Fuel Imports: Prices for import fuel increased 2.8 percent in December following a 1.3-percent advance the previous month. Higher December prices for both petroleum and natural gas contributed to the overall increase in fuel prices.