US: Import prices declined 0.5% in January vs -0.1% expected

Eren Sengezer FXStreet

"U.S. import prices fell 0.5 percent in January following a 1.0-percent drop in December and a 1.7-percent decrease in November," the U.S. Bureau of Labor Statistics reported on Friday.

Key takeaways from the press release

Prices for U.S. imports declined 0.5 percent in January and 3.1 percent over the last 3 months.
The 3-month drop was the largest decrease since the index fell 3.1 percent from July 2015 to October 2015.
Both fuel and nonfuel prices contributed to the January decline.
Prices for U.S. exports decreased 0.6 percent for the second consecutive month in January.
Export prices have only recorded one monthly advance since June.
The price index for overall exports decreased 0.2 percent for the year ended in January, the first 12-month decline since the index fell 0.2 percent in November 2016.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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