WASHINGTON — U.S. import prices rose 0.3% in January, after sliding an unrevised 0.1% in December, the Labor Department reported Tuesday.
Export prices rose 0.2% in January, after falling an unrevised 0.5% in December.
The January increase, due to higher prices for both fuel and nonfuel imports, was in line with the median 0.3% gain projected by economists polled by Thomson Reuters.
Prices of fuel imports rose 1.0% after declining a revised 0.6% in December. Prices of nonfuel imports increased 0.1% after rising a revised 0.2% in December.
Year over year, import prices were up 7.1% in January and rose an unrevised 8.5% in December.
The January gain in export prices was led by higher prices for agricultural exports, which were up 1.1%. Prices for nonagricultural exports were unchanged in January.