The Labor
Department reported on Tuesday the import-price index, measuring the cost of
goods ranging from Canadian oil to Chinese electronics, rose 1.4 percent m-o-m
in January 2021, following a revised 1.0 percent m-o-m gain in December 2020
(originally a 0.9 percent m-o-m advance). This was the largest monthly advance
since March 2012. Economists had expected prices to increase 1.0 percent m-o-m
last month.
According to
the report, the January gain was driven by higher prices for both fuel (+7.4
percent m-o-m) and nonfuel (+0.8 percent m-o-m) imports.
Over the
12-month period ended in January, import prices rose 0.9 percent, as a climb in
import nonfuel prices (+2.5 percent) more than offset a tumble in import fuel
prices (-13.4 percent). This represented the first over-the-year increase since
January 2020 and the largest 12-month advance since October 2018.
Meanwhile, the
price index for U.S. exports jumped 2.5 percent m-o-m in January, following a
revised 1.3 percent m-o-m gain in the previous month (a 1.1 percent m-o-m growth).
The January rise
was driven by higher prices for both agricultural exports (+6.0 percent m-o-m)
and nonagricultural exports (+2.2 percent m-o-m).
Over the past
12 months, the price index for exports rose 2.3 percent, reflecting surges in
prices of both agricultural exports (+9.4 percent) and nonagricultural exports
(+1.5 percent). This marked the largest 12-month advance since October 2018.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.