The U.S. import price index was flat in December, according to data released by the Bureau of Labor Statistics Friday.

IFR Markets had predicted the unchanged level for the imports index, which followed an upwardly revised 3.3% increase in import prices in November, originally reported as a 2.7% jump.

Excluding petroleum, the import price index rose 0.3% in the month, after a 0.7% rise in October.

Petroleum import prices fell 0.6% in December, after a 12.7% spike in November. In the past year, petroleum import prices have risen 50.1%, compared to a 10.9% climb in the overall import price index and a 2.9% rise in non-petroleum imports, Labor said.

Meanwhile, export prices rose 0.4%, after a 0.9% increase in November.

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