WASHINGTON — U.S. import prices were flat in December, restrained by lower petroleum prices, as nonfuel imports increased for the fifth month in a row, the Labor Department reported today.
Export prices increased 0.6% for the month and rose 0.9% in November.
Import prices excluding petroleum increased 0.5%. Prices for industrial supplies and materials fell 0.1%, the first decrease since July. Non-petroleum industrial supplies and materials increased 2.2%.
Economists expected December import prices to be unchanged, according to the median estimate from Thomson Reuters.
Import prices increased 8.6% from December 2008.
The November import price increase was revised lower to 1.6% from 1.7% reported last month.
Petroleum import prices fell 2.0% and total fuel prices fell 1.4%, the first decline since September. The drop in petroleum prices offset a 6.9% increase in natural gas import prices.
