US: Imports prices fall 1% in December amid lower energy prices

"U.S. import prices declined 1.0 percent in December, after decreasing 1.9 percent in November and rising 0.5 percent in October," the U.S. Bureau of Labor Statistics reported on Wednesday.

Key takeaways from the press release

• The November drop was the largest monthly decline since the index fell 3.2 percent  in January 2015.
• Prices for imports decreased 0.6 percent in 2018 following a 3.2-percent increase the previous year.
• Prices for import fuel declined 9.2 percent in December, after a 13.3-percent drop the previous month.
• Export prices fell 0.6 percent in December following a 0.8-percent decrease in November. 
• Despite the December downturn, U.S. export prices increased 1.1 percent in 2018.