U.S. import prices were unchanged while export prices advanced in January, the U.S. Department of Labor reported on Friday.
U.S. import prices were unchanged in January following 0.2-percent advances in the previous two months. In January, falling fuel prices offset increasing prices for nonfuel imports. The prices for U.S. imports from China decreased by 0.3 percent in January.
Prices for U.S. imports rose 0.3 percent from January 2019 to January 2020, while the prices for U.S. imports from China fell by 1.2 percent.
The price index for overall imports advanced on a 12-month basis for the second consecutive month, after not recording an over-the-year increase since the index rose 0.1 percent for the year ended in March 2019.
Meanwhile, U.S. export prices rose 0.7 percent in January, the largest monthly advance since the index increased 0.7 percent in March. In the meantime, the prices of U.S. exports to China increased by 0.3 percent. In January, rising prices for both agricultural and nonagricultural exports contributed to the overall increase.
Prices for exports also advanced on a 12-month basis, increasing 0.5 percent in January, while the prices for U.S. exports to China fell by 0.2 percent.
The rise in January was the first 12-month advance since the index increased 0.2 percent for the year ended in April.
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