US import goods prices rise less than expected in December

Prices for goods in the States purchased overseas rose by less than was expected at the end of 2016.

The US import price index increased by 0.4% month-on-month in December and was up by 1.8% year-on-year, according to the Bureau of Labour Statistics.

Economists had penciled in an advance of 0.7% on the month.

Prices of imported fuels rose by 7.3% on the month but those of non-fuel imports were down by 0.2%.

Export prices were also higher, rising by 0.3% over the month, with prices of agricultural products down 0.3% and those for non-agricultural ones up by 0.4%.