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U.S. import prices fell 0.2 percent in January 2023
February 23, 2023
Prices for U.S. imports fell 0.2 percent in January and have not recorded a monthly advance since June 2022. In total, U.S. import prices declined 4.9 percent from June 2022 to January 2023.
1-month and 12-month percent changes in U.S. import prices
Month
1-month change
12-month change
All imports
Fuel imports
Nonfuel imports
All imports
Fuel imports
Nonfuel imports
Jan 2022
2.0%
7.3%
1.4%
10.8%
58.4%
7.0%
Feb 2022
1.8
10.6
0.8
11.4
57.9
7.4
Mar 2022
2.9
17.8
1.2
13.0
72.3
7.7
Apr 2022
0.5
0.8
0.4
12.5
70.6
7.2
May 2022
0.5
6.1
-0.3
11.6
72.0
5.9
Jun 2022
0.2
5.6
-0.6
10.7
73.2
4.6
Jul 2022
-1.4
-6.9
-0.5
8.8
56.6
4.1
Aug 2022
-1.2
-8.6
-0.2
7.7
46.4
3.9
Sep 2022
-1.0
-6.3
-0.3
6.1
32.5
3.5
Oct 2022
-0.3
-2.2
-0.1
4.2
16.7
2.9
Nov 2022
-0.8
-3.9
-0.3
2.7
9.4
2.0
Dec 2022
-0.1
-4.4
0.4
3.0
13.3
1.9
Jan 2023
-0.2
-4.9
0.3
0.8
0.4
0.8
Despite the recent declines, prices for U.S. imports rose 0.8 percent over the past year. The 12-month increase in January was the smallest over-the-year rise since import prices fell 0.3 percent from December 2019 to December 2020.
From December 2022 to January 2023, fuel import prices decreased 4.9 percent while nonfuel import prices increased 0.3 percent. From January 2022 to January 2023, fuel import prices increased 0.4 percent while nonfuel import prices increased 0.8 percent.
United States Department of Labor
