Tags: Import Prices Rise 1.1 Percent in Another Big Jump

Import Prices Rise 1.1 Percent in Another Big Jump

Wednesday, 12 Jan 2011 08:48 AM

U.S. import prices jumped in December as energy costs surged, a sign that while inflation may be tame domestically there are plenty of price pressures coming from overseas.

Import prices rose 1.1 percent, just beneath economists' forecasts in a Reuters poll, following a revised 1.5 percent increase in November. Prices were up 4.8 percent for 2010 as a whole, according to the Labor Department data released on Wednesday.

Petroleum import prices climbed 3.9 percent, while non-petroleum costs rose just 0.4 percent.

Export prices advanced 0.7 percent after a 1.5 percent gain in November. They were up 6.5 percent in 2010, the highest in records dating back to 1983, and nearly double the rise seen in 2009.

A low inflation environment in the United States has allowed the Federal Reserve to maintain a very loose monetary policy, but a recent spike in global energy and commodity prices has raised some concern that cost pressures might pick up.

© 2017 Thomson/Reuters. All rights reserved.

 
1Like our page
2Share
Headline
U.S. import prices jumped in December as energy costs surged, a sign that while inflation may be tame domestically there are plenty of price pressures coming from overseas. Import prices rose 1.1 percent, just beneath economists' forecasts in a Reuters poll, following a...
Import Prices Rise 1.1 Percent in Another Big Jump
156
2011-48-12
Wednesday, 12 Jan 2011 08:48 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved