US import prices slow by more than expected in January

Import price gains in the States slowed by more than expected in January.

According to the Department of Labor, in seasonally adjusted terms, the country's improt price index slipped at a month-on-month pace of 0.2% (consensus: -0.1%).

Fuel import prices were the main drag, retreating by 4.9% on the month, while those of non-fuel imports were up by 0.3%.

In year-on-year terms, import prices were ahead by 0.8% (Barclays Research: 1.3%).

Export prices meanwhile increased by 0.8% in comparison with December, with those of agricultural goods dipping by 0.2% and those of non-agricultural products rising by 0.8%.

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