Summary
Earlier today, the Labor Department reported that import prices rose 1.3% in January. This was the largest monthly increase since last September, helping to contribute to a year-over-year gain of a strong 8.8%.
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* Today's Labor Department release indicated that overall import prices rose 1.3% during January, versus a revised 0.1 decline in December. The January increase was the largest since a 2.1% rise last September.
* Excluding petroleum, import prices were up 0.2% in January, versus a revised 0.1% gain in December.
* Import prices for petroleum rose a strong 6.4% in January, reversing December's revised decline of 0.4%.
* For the 12 months ended January, the price of all imports rose 8.8%. Excluding petroleum, the figure was 2.4%, with petroleum prices showing a year-over-year increase of 48.3%.
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U.S. IMPORT PRICES - % CHANGE
(3-Mo.= Three-month Compound Annual Rate)
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All Imports, Petroleum
All Imports Excl. Petrol. Imports Only
Month/ -------------- --------------- ---------------
Year Mo. 3-Mo. Y/Y Mo. 3-Mo. Y/Y Mo. 3-Mo. Y/Y
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01/06 1.3 -2.4 8.8 0.2 0.8 2.4 6.4 -14.1 48.3
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12/05 -0.2 -7.1 8.0 0.1 3.9 2.5 -0.4 -40.8 42.5
11/05 -1.8 1.1 6.5 -0.1 7.3 2.8 -9.1 -21.5 26.7
10/05 0.1 15.3 8.2 1.0 8.1 3.8 -3.1 53.2 31.2
09/05 2.1 20.5 9.9 0.9 3.2 2.7 6.9 133.7 50.4
08/05 1.4 16.5 8.2 0.1 -1.2 1.9 7.4 151.4 45.4
07/05 1.2 6.4 8.2 -0.2 -2.3 2.1 7.7 57.9 47.3
06/05 1.2 5.3 7.4 -0.2 0.0 2.3 8.9 35.3 39.9
05/05 -0.8 9.4 5.9 -0.2 2.0 2.6 -4.4 59.2 27.1
04/05 0.9 17.1 8.4 0.4 3.2 3.0 3.6 132.7 45.5
03/05 2.2 15.4 7.6 0.3 2.8 2.9 13.4 120.6 40.1
02/05 0.9 0.0 6.1 0.1 3.2 2.8 5.1 -17.9 29.8
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01/05 0.6 -4.5 5.7 0.8 5.5 3.1 2.2 -47.4 24.2
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