**MNI:5 Things We Learned From The December Import Price Data>

By Kevin Kastner, Sara Haire and Holly Stokes

     WASHINGTON (MNI) - The following are the key points from the 

December import and export price report released by the Bureau of Labor 

Statistics Wednesday: 

     - The import price data pointed to significantly slower growth 

after a November surge, with overall import prices up 0.1% and import 

prices ex. fuels down 0.1%, which should calm some inflation concerns 

ahead of PPI Thursday. 

     - Fuel prices jumped 1.8%, led by a 2.0% gain in petroleum prices 

that was partially offset by a 4.9% drop in the relatively small natural 

gas component, but outside of energy there was little to get excited 

about. 

     - Import prices were down for foods, feeds and beverages, 

industrial supplies excluding fuels, and consumer goods, and were 

flat for capital goods and autos, a clean sweep of soft readings. 

     - Prices outside of fuels were up only 1.4% year/year, compared 

with a gain of 3.0% for total import prices over the same period, so 

energy is still the main driver of imported inflation. However, both of 

those year/year gains were much stronger than reported in December 2016. 

     - Export prices down 0.1%, but were flat outside of a 0.4% decline 

in agricultural prices. 

     ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MAUDS$,M$U$$$,MAUDR$]