January 2017 U.S. Import and Export Price Indexes — 2017-02-10

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.