U.S. Import Prices Rise for Third Month

U.S. import prices rose 0.1 percent month-on-month in December 2024, consistent with November and October and in line with market expectations. Fuel import prices rose 1.4 percent, the most since April, driven by higher prices for natural gas and oil. In addition, nonfuel import prices rose 0.1 percent for the second month in a row, as higher prices for food, feed, and beverages more than offset declines in nonfuel manufactured goods and supplies, capital goods, and automobiles.

The increase in U.S. import prices, especially in fuel and food categories, reflects the ongoing global economic trends impacting consumer goods. It's essential for businesses to monitor these changes to adjust pricing strategies accordingly and maintain competitiveness in the market.