Keeping you up to date on the latest data releases.
Import prices edged down −0.1 percent in December after falling −0.9 percent in November. December’s decline marks the second consecutive month of losses and deviates sharply from the 0.1 percent gains predicted by consensus forecasters. Nonpetroleum import prices ticked up 0.1 percent and were offset by falling petroleum prices which fell −0.8 percent. On a year-over-year basis, import prices extended last month’s decline falling −1.6 percent. Petroleum prices drove the drop of the overall index, plummeting 7 percent on a yearly basis to mark eight months of the consecutive declines. Nonpetroleum import prices stayed relatively flat in December edging up 0.1 percent after posting 0.1 percent gains in November and 0.1 percent declines in October. Like November’s import price report, December’s exhibits much of the weakness stemming from the sluggish global economy.
Export prices ticked down −0.1 percent after falling −0.7 percent in November and posting gains throughout the third quarter. On a year-over-year basis, export prices increased 1.0 percent marking the third consecutive month of gains.