January 2011 U.S. Import and Export Price Indexes — 2011-02-15

The price index for U.S. imports increased 1.5 percent in January, the U.S. Bureau of Labor Statistics reported today, as higher prices for fuel and nonfuel imports each contributed to the advance. U.S. export prices rose 1.2 percent in January, following increases of 1.5 percent in November and 0.6 percent in December. All Imports: Import prices advanced 1.5 percent in January, and for the first time since July 2008 the index advanced at least 1.0 percent for four consecutive months. Import prices increased 5.3 percent over the past year, the largest 12-month advance for the index since an 8.5 percent rise between May 2009 and May 2010. In addition to contributing to the January price increases, higher fuel and nonfuel prices also both contributed to the 12 month advance in overall imports. Fuel Imports: Fuel prices rose 3.9 percent in January, after rising 14.1 percent over the previous three months.