In the News: Import Prices on the Rise The price of goods imported to the United States rose 1.5%
in January, the Labor Department reported Tuesday. The increase followed a revised 1.2% gain in December that was slightly higher than originally reported. Economists had forecast a 0.8% increase, according to Bloomberg.
Additionally, petroleum prices jumped 3.4% in January. Excluding food and fuel, import prices rose 0.6%, while excluding all fuels, prices gained 0.8%. U.S. export prices rose 1.2% following a revised 0.6% gain in December, the Labor Department reported. |