January 2014 U.S. Import and Export Price Indexes — 2014-02-14

U.S. import prices rose for the second consecutive month in January advancing 0.1 percent, after a 0.2 percent increase in December, the U.S. Bureau of Labor Statistics reported today. In January, higher nonfuel prices more than offset declining fuel prices. U.S. export prices also rose in January, increasing 0.2 percent following a 0.4 percent advance in December. All Imports: Import prices ticked up 0.1 percent in January following a 0.2 percent rise the previous month. The January advance was led by higher nonfuel prices, while the increase in December was driven by rising fuel prices. Despite the recent advances, prices for overall imports declined 1.5 percent for the year ended in January. Import prices have not recorded a year-over-year increase since a 0.9 percent rise between July 2012 and July 2013. Fuel Imports: Fuel prices fell for the third time in the past 4 months in January, declining 0.6 percent, after a 1.3 percent advance in December.