WASHINGTON – Import prices in the United States fell in December for the second month followed by lower oil product costs and because the strength of the dollar weighed on the values of other goods, which contributed to the largest annual decline in more than two years.
The Labor Department said Wednesday that import prices fell 1.0 percent last month, after a revised decline of 1.9 percent in November.
Economists polled in a Reuters poll predicted that the indicator would fall by 1.3 percent in December, after the 1.6 percent decline initially reported for November.
In the 12 months to December, import prices fell 0.6 percent, the largest year-on-year increase since September 2016. It was also the first year-on-year decline since October 2016 and came after an increase of 0.5 percent. November cent.
The report also showed that import prices fell 0.6 percent in 2018, the first decline in a calendar year since 2015, after climbing 3.2 percent in 2017.
In the year-on-year comparison, export prices rose 1.1 percent after adding 1.8 percent in November. In 2018, they increased 1.1 percent.