2024.01.1712:42:00UTC+00U.S. Import Prices Unexpectedly Unchanged In December

Import prices in the U.S. unexpectedly came in unchanged in the month of December, according to a report released by the Labor Department on Wednesday.

The Labor Department said import prices were unchanged in December after declining by a revised 0.5 percent in November.

Economists had expected import prices to decrease by 0.5 percent compared to the 0.4 percent drop originally reported for the previous month.

Meanwhile, the report said export prices slumped by 0.9 percent for the third consecutive month. Export prices were expected to fall by 0.6 percent.