MNI DATA ANALYSIS: January US Import Prices Fall 0.5%>

--Import Prices Ex. Fuels Down 0.2%, Ex-Petro Down 0.7%

--Import Prices Fall 1.7% Y/Y; Ex-Fuels Fall 0.2% Y/Y 

--Fuel Prices Down 3.2%, Petroleum Falls 0.1%, Natural Gas Down 44.2%

By Harrison Clarke and Shikha Dave

     WASHINGTON (MNI) - Import prices were down 0.5% in January, well 

below the 0.2% decline expected and following a 1.0% decline in 

December, according to data released by the Bureau of Labor Statistics 

Friday. 

     The data suggest import inflation growth is softening after 

declines in the last two months. The data set is likely to get more 

attention when the full effect of the tariffs can be found in both the 

import and export price measures. 

     Overall fuel prices were down 3.2% in the month, with petroleum 

prices down 0.1%, and natural gas prices down 44.2%. 

     Import prices declined 0.7% excluding petroleum, but only fell 0.2% 

excluding all fuels. There were declines in foods, feeds, and beverages, 

and in consumer goods ex autos. Industrial supplies and materials prices 

declined 1.7%, while capital goods prices posted a 0.1% gain.  

     Overall import prices were down 1.7% year/year in January after a 

0.6% year/year decline the previous month. Prices excluding fuels were 

down 0.2% year/year and prices excluding petroleum were down 0.4% 

year/year. 

--REGIONAL PRICES GENERALLY DOWN 

     By region, prices for imports from most industrialized countries 

were generally down. Import prices from Canada fell 1.5%, due to a 4.2% 

decrease in non-manufacturing goods that was accompanied by a 0.7% 

decline in manufacturing goods.

     There were generally downward readings in import prices from most 

other trading partners. Prices from China were down 0.3%, but prices 

from the EU rose 0.2% in the month, while prices from Mexico fell 1.0%. 

     Total export prices were down 0.6% in January on a 2.1% decrease in 

agricultural export prices. Export prices excluding agriculture posted a 

0.3% decrease. Export prices were down 0.2% from a year earlier and down 

from the 1.1% year/year gain in December. Export prices excluding 

agriculture were down 0.2% year/year, while agricultural prices were up 

0.2% year/year. 

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

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