–Import Prices Ex. Petroleum +0.4%, Ex. Fuels +0.3%
–Export Prices +0.7%, Agriculture Prices +1.7%, Non-Ag +0.6%
By Kevin Kastner
WASHINGTON (MNI) – U.S. prices for imported goods jumped 1.1% in
December, as the price of imported petroleum rose 3.9% and the remaining
components rose 0.4% combined, the Labor Department reported Wednesday.
This increase brought the change over the last three months to
3.7%, the largest such increase since the June-August 2009 period.
Import prices were up for almost all nonpetroleum categories, with
flat readings for autos and consumer goods the only exceptions.
Total fuel import prices, which include petroleum as well as
natural gas, rose 4.1% in the month, while import prices excluding fuels
was rose 0.3%. Natural gas import prices surged 14.4% in December.
Total import prices were up 4.8% in 2010, compared with an 8.6%
rise in 2009. Non-petroleum prices were up 2.7% year/year and prices
excluding fuels were up 3.0% year/year. Fuel prices were up 11.9%
year/year, while petroleum prices were up 13.7% over that period.
Export prices rose 0.7% in December. Agricultural export prices
rose 1.7% and were up 20.2% from a year earlier.
Export prices for non-agricultural products were up 0.6% on gains
in every major category except a flat reading for auto export prices.
Total export prices rose 6.5% year/year, while non-agricultural
export prices were up 5.1% over the same period, the largest 12-month
gain since 1987..
The country data generally pointed to price increase, with the only
exception being a 0.1% drop in the price of imports from the EU. The
price of imports from Canada surged 1.8% and import prices from China
were up 0.3%.
** Market News International Washington Bureau (202) 371-2121
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