US import prices steady in December, export prices down 0.9%

By Ovunc Kutlu

ISTANBUL (AA) - US import prices remained unchanged in December on a monthly basis, while export prices dropped 0.9%, according to data released Wednesday by the Labor Department's Bureau of Labor Statistics.

The estimate for import prices was to show a 0.5% decline, following the same percentage decrease in November.

"Prices for U.S. imports fell 1.6 percent for the year ended in December," the agency said in a statement. "U.S. import prices have not risen on a 12-month basis since January 2023."

Export prices, meanwhile, fell 0.9% in December for the third consecutive month.

That expectation for the figure was to show a 0.6% decline, following a 0.9% decrease in November.

On an annual basis, prices for US exports fell 3.2% in December, after plummeting 5.2% in November.

"Export agricultural prices declined 0.6 percent in December following a 0.1-percent advance in November," said the agency.

"Prices for nonagricultural exports declined 0.9 percent in December following decreases of 1.0 percent in November and 0.9 percent in October," it added.