US import prices register first increase in six months

US import prices unexpectedly broke a five-month streak of declines at the end of 2022.

According to the US Department of Labor, in seasonally adjusted terms, import prices increased at a month-on-month pace of 0.4% in December (consensus: -0.9%).

In year-on-year terms they advanced by 3.5% (consensus: 2.1%).

Core import price growth did however edge lower by one tenth of a percentage point in annual terms to 1.9%, Oxford Economics pointed out.

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