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.