January 2016 U.S. Import and Export Price Indexes — 2016-02-12

In January, prices for U.S. imports decreased 1.1 percent for the second consecutive month, the U.S. Bureau of Labor Statistics reported today. In both months, the declines were primarily driven by lower fuel prices. U.S. export prices also fell in January, decreasing 0.8 percent. The decline followed a 1.1-percent drop the previous month. All Imports: The price index for overall imports fell 1.1 percent in January, the largest monthly decrease for the index since a 1.8-percent drop in August 2015. Both fuel and nonfuel prices continued to trend down. Import prices fell 6.2 percent over the past year. Despite declining in January, the 12-month drop in import prices was the smallest over-the-year decrease since the index fell 5.6 percent between December 2013 and December 2014. Fuel Imports: Import fuel prices declined 12.4 percent in January, the largest 1-month drop since a 12.7- percent decline in August 2015.