Keeping you up to date on the latest data releases.
Import prices inched up by 0.1 percent in January after rising 0.2 percent on a monthly basis in December. Nonpetroleum prices posted a 0.4 percent monthly gain, slightly offsetting lower petroleum prices, which fell by −1.2 percent in January. On a year-over-year basis, import prices fell −1.5 percent, marking the fifth consecutive month of yearly declines. Petroleum plummeted by −4.0 percent on a yearly basis, after a more modest drop in December of −0.6 percent. Nonpetroleum prices were down as well by −0.9 percent and marked eleven consecutive months of yearly declines. Overall, January’s trade price report extends the weakness seen in last quarter of 2013.
Export prices rose 0.2 percent in December after increasing 0.4 percent in December. On a year-over-year basis, export prices fell −1.2 percent, marking six months of consecutive declines.