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Image: U.S. Bureau of Labor Statistics

U.S. import prices unchanged in January

U.S. import prices were unchanged in January.

Slight advances (0.2%) happened the previous two months, according to the U.S. Bureau of Labor Statistics.

“In January, falling fuel prices offset increasing prices for nonfuel imports,” the bureau said in a news release on Feb. 14. “Prices for U.S. exports advanced 0.7% in January, after declining 0.2% the previous month.”

The bureau said prices for imported fuel declined 2.2% in January, led by lower prices for both petroleum and natural gas. 

“The January decrease was the largest monthly drop since the index fell 4.2% in August." 

The price index for agricultural exports advanced 2%t in January, while rising prices for vegetables, soybeans, wheat and corn in January more than offset lower prices for fruit, 

meat and nuts.

Prices also advanced for agricultural exports over the past year, rising 3.1% from January 2019 to January 2020, the bureau said.