US: Prices for imports ticked up 0.1% in December

"Prices for U.S. imports ticked up 0.1 percent in December, today, following a 0.8-percent rise the previous month," the U.S. Bureau of Labor Statistics reported on Wednesday.

Key highlights

Higher fuel prices more than offset a decline in the price index for nonfuel prices in December.

Prices for U.S. exports fell 0.1 percent in December, the first monthly decline for the index since a 0.1-percent decrease in June. 

In contrast, U.S. export prices edged down 0.1 percent in December, after advancing 0.5 percent in November.

Prices for U.S imports increased 3.0 percent in 2017, after advancing 1.9 percent the previous year. 

Export prices rose 2.6 percent in 2017 following a 1.3- percent rise in 2016.