Import Prices Up 1.3%

Washington, DC, February 16, 2006–Prices of goods imported into the United States rose by 1.3% in January as the price of imported petroleum rose 6.4%, the Labor Department said Thursday.

According to the MarketWatch survey, economists expected import prices to rise 1.0% in January after December’s 0.1% decline.

Prices of imports excluding petroleum rose 0.2% in January. Excluding all fuels, import prices increased 0.4%.

In the past year, import prices have risen 8.8%. Year-over-year, petroleum prices are up 48.3%.

Prices of imported industrial materials excluding fuels increased 1.6% in January. Prices of imported foods and feeds increased 1.2%.

Imported capital goods prices fell 0.1% and consumer goods prices rose 0.2%.

Prices of goods exported from the United States rose 0.7% in January after rising 0.1% in December. Prices of agricultural exports rose 0.7%.

Export prices are up 2.7% in the past 12 months.

Prices of exported capital goods rose 0.2%.

Prices of imports from the Middle East rose 5.9% after advancing 0.8% in December.

Prices of imports from China fell 0.2%. Prices of imports from the newly industrialized Asian nations fell 0.1% and are down 2.3% in the past year.

Prices of imports from the European Union rose 1.7%. Prices of imports from Japan fell 0.2%.

Prices of imports from Canada rose 1.2%.