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Economic Buzz: US Import Prices Continues To Fall Significantly In December
(17-Jan-2019, 08:05 Hours IST)
US Labor Department said import prices fell by 1.0 percent in December after tumbling by a revised 1.9 percent in November, reflecting a continued nosedive in fuel prices. The steep drop in import prices came as prices for fuel imports plunged by 9.2 in December after plummeting by 13.3 percent in November. The Labor Department said petroleum prices dove by 11.6 percent, more than offsetting a 30.3 percent spike in natural gas prices. Excluding fuel prices, import prices came in unchanged in December after falling by 0.3 percent in the previous month.

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