BUSINESS US prices of imports, exports decrease in December

BUSINESS

US prices of imports, exports decrease in December

Xinhua

13:10, January 17, 2019

HOUSTON, Jan. 16 (Xinhua) - US import and export prices both decreased in December 2018, the US Bureau of Labor Statistics said Wednesday.

VCG111185737843.jpg

(File Photo: VCG)

Prices for US imports decreased by 1.0 percent in December, including a 9.2 percent decline in prices for import fuel. Prices for imports decreased by 0.6 percent in the year of 2018 which was the first calendar-year drop since 2015.

In 2018, import fuel prices fell 10.4 percent following a 21.8 percent increase in the previous year. The 2018 decline was also the first calendar-year decrease since 2015, when import fuel prices fell 41.0 percent.

US export prices recorded a 0.6 percent fall in December. Despite the December downturn, US export prices increased 1.1 percent in 2018. The price index for exports has not recorded a calendar-year decrease since a 6.6 percent fall in 2015.

Agricultural export prices advanced 3.9 percent in December, the largest increase for the index since a 4.8 percent rise in August 2012. The price index for agricultural exports rose 2.5 percent in 2018, which was the largest calendar-year advance since the 13.4 percent rose in 2012.

Prices for nonagricultural exports decreased 1.1 percent in December. Lower prices for nonagricultural industrial supplies and materials led the December decrease, more than offsetting rising prices of consumer goods and vehicles. Despite the December decline, nonagricultural export prices advanced 1.0 percent in 2018.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue