Keeping you up to date on the latest data releases.
Import prices advanced 1.1 percent last month, making December the third consecutive increase exceeding 1.0 percent and bumping year-over-year growth up nearly a full percentage point, to 4.8 percent. December’s increase was largely driven by petroleum prices, which rose 3.9 percent and have gained an average 4.3 percent per month in the fourth quarter of 2010. The most pronounced increases over the past twelve months have come from petroleum and prices for foods, feeds and beverages, up 13.7 percent and 13.1 percent, respectively. Excluding petroleum, import prices increased 0.4 percent in December and have grown 2.7 percent since December 2009.
Export prices also continued to rise, climbing at a slower 0.7 percent pace in December after a 1.5 percent gain in November. Year-over-year growth remained at 6.5 percent, its highest since September 2008 before prices began their precipitous decline.