The price of goods imported to the United States was unchanged in December after declining the prior month, the Labor Department reported Jan. 14.
December is the third consecutive month without an increase and followed a 0.9% decline in November. Economists’ had forecast a 0.4% increase, Bloomberg News reported.
“Commodity disinflationary pressures remain significant and widespread,” Jefferies economist Thomas Simons wrote in a note, Bloomberg reported. Jefferies is global investment banking firm.
Import prices fell 1.3% year-over-year, and the cost of imported goods minus fuel fell 0.1% last month following no change in November.
The price of consumer goods fell 0.2% after rising 0.1% in November. U.S. export prices increased 0.4% after rising 0.1% the previous month.