US import prices up in 2019
Prices for imports into the United States rose 0.5 percent in 2019, according to the U.S. Bureau of Labor Statistics, after decreasing 0.9 percent in 2018.
The bureau said in a report on Wednesday, Jan. 22, that it was the largest 12-month increase since import prices rose in November 2017.
Import fuel saw the highest increase at 19.3%. In 2018 it dropped 13.1%. Another increase included industrial supplies at 5.9%.
A decline was noticed in import prices for nonfuel industrial supplies and materials, which fell 2.5%.
“Import prices declined 1.7% for capital goods and 1.6% for foods, feeds, and beverages in 2019,” according to the report. “Import prices declined 0.6 percent over the year for automotive vehicles, parts and engines and also for consumer goods, excluding automotives.”