The U.S. Import Price Index decreased 1.2 percent in January.
The decline followed a 1.1-percent rise in December and was led by a 7.3-percent downturn in petroleum prices. Petroleum prices resumed a recent downward pattern after increasing 4.6 percent in December.
Nonpetroleum prices were unchanged in January after a 0.5-percent advance the previous month. Prices for nonpetroleum imports rose 1.6 percent over the 12 months ended n January.
Changes in prices for nonpetroleum imports were highlighted by a turnaround in the index for nonpetroleum industrial supplies and materials prices, which declined 1.0 percent. The January decrease followed increases of 1.7 percent and 4.1 percent, respectively, in December and November.
Export prices increased 0.3 percent in January as higher prices for both agricultural and nonagricultural exports contributed to the rise. The advance in the prices for overall exports followed increases of 0.7 percent and 0.4 percent, respectively, in December and November. For the year ended in January, export prices rose 4.1 percent.
These data are from the BLS International Price program. Import and export price data are subject to revision. Learn more in "U.S. Import and Export Price Indexes - January 2007," (PDF) (TXT) news release USDL 07-0246.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import prices in January 2007 at https://www.bls.gov/opub/ted/2007/feb/wk2/art05.htm (visited December 05, 2023).