WASHINGTON — U.S. import prices rose 1.0% in January on a 4.7% rise in fuel prices and a 0.4% rise for import prices outside of fuels, the strongest gain for that core series since March 2012.
There were gains in all of the non-fuel categories except for a flat reading for consumer goods.
Import prices are now up 3.6% year/year, compared with a 3.2% year/year gain in December, while import prices ex. fuels are now up 1.9% year/year, the strongest pace since March 2012.
Import prices from Canada jumped 2.5% in the month, while prices from Mexico rose 0.7% and prices from Japan rose 0.6%. However, prices from Germany fell a record 3.0% and prices from China were flat.
Export prices were up 0.8% in January, led by a 0.9% rise in nonagricultural prices that offset a 0.1% decline in agricultural prices.
