Prices for foreign-made goods imported to the U.S. rose in January, driven by a broad range of product price increases and capping a week of solid inflation readings.
Import prices increased 1% in January from a month earlier, the Labor Department said Friday. Economists surveyed by The Wall Street Journal expected a 0.7% increase in import prices. The January rise matched November's increase and hasn't been exceeded since May 2016, when the index grew 1.2%.
Unlike most measures of inflation, import prices are not adjusted for seasonality.
Petroleum-import prices rose 4.3% from December. Prices for imports excluding petroleum increased 0.5% last month, an increase last exceeded in April 2011.
Over the past year, overall import prices have grown 3.6%.
Import prices increased 1% in January from a month earlier, the Labor Department said Friday. Economists surveyed by The Wall Street Journal expected a 0.7% increase in import prices. The January rise matched November's increase and hasn't been exceeded since May 2016, when the index grew 1.2%.
Unlike most measures of inflation, import prices are not adjusted for seasonality.
Petroleum-import prices rose 4.3% from December. Prices for imports excluding petroleum increased 0.5% last month, an increase last exceeded in April 2011.
Over the past year, overall import prices have grown 3.6%.
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