December 2016 U.S. Import and Export Price Indexes — 2017-01-12

Prices for U.S. imports rose 0.4 percent in December, the U.S. Bureau of Labor Statistics reported today, after a 0.2-percent decline the previous month. The advance in December was primarily driven by higher fuel prices which more than offset lower nonfuel prices. U.S. export prices advanced in December, rising 0.3 percent following a 0.1-percent decrease in November. All Imports: Import prices resumed an upward trend in December, rising 0.4 percent following a 0.2- percent decline in November. Prices for overall imports advanced 1.8 percent between December 2015 and December 2016, the largest 12-month increase since the index rose 3.5 percent in March 2012. The increase in 2016 was the first calendar-year advance since import prices rose 8.5 percent in 2011. Fuel Imports: Prices for import fuel advanced 7.3 percent in December, the largest monthly increase since the index rose 10.5 percent in June. The December increase was primarily led by a 7.9-percent advance in petroleum prices.