2018.01.1008:38:00UTC+00U.S. Import Prices Rise Less Than Expected In December

With a drop in prices for non-fuel imports partly offsetting a jump in prices for fuel imports, the Labor Department released a report on Wednesday showing U.S. import prices rose by much less than expected in the month of December.

The Labor Department said import prices inched up by 0.1 percent in December after climbing by climbing by an upwardly revised 0.8 percent in November.

Economists had expected import prices to rise by 0.5 percent compared to the 0.7 percent increase originally reported for the previous month.

The report also showed an unexpected decrease in export prices, which edged down by 0.1 percent in December after rising by 0.5 percent in November. Export prices had expected to rise by 0.3 percent.