US Import prices YoY% change
US import/export prices for January 2022
- prior month -0.4%
- import prices rose 2.0% versus 1.3% estimate
- The January decrease was the largest monthly rise since April 2011
- prices for US imports advanced 10.8% over the past year. The gains were led by higher fuel and non-fuel prices
- export prices rose 2.9% following a 1.6% decline in December. Expectations was for a 1.3% increase
- the January advance was the largest one month rises since monthly percentage changes was first published in January 1989
- higher prices for both agricultural and nonagricultural exports in January contributed to the overall increase
- in export prices the price index for US exports increased 15.1% year on year
The surge in prices is another notch on the inflation belt that the Fed will be focused on going forward.