December 2014 U.S. Import and Export Price Indexes — 2015-01-14

The price index for U.S. imports fell 2.5 percent in December following a 1.8-percent drop in November and a 1.4-percent decline in October, the U.S. Bureau of Labor Statistics reported today. Each of the monthly decreases was driven by lower fuel prices. U.S. export prices declined 1.2 percent in December, after decreasing 0.8 percent the previous month. All Imports: U.S. import prices fell 2.5 percent in December, the largest 1-month decline since a 4.6- percent drop in December 2008. Import prices have not recorded a monthly advance since rising 0.3 percent in June and fell 7.3 percent over the second half of 2014. The price index for imports decreased 5.5 percent overall in 2014, the largest calendar-year drop since falling 10.1 percent in 2008. Fuel Imports: Fuel prices declined 15.1 percent in December following an 8.7-percent decrease in November and a 6.7-percent drop in October.