In Brief : Import Prices Up 1.6% in 4th Quarter
Prices of imported goods rose 1.6% from October through December after declining during the previous three months, the government reported today.
The Labor Department said the increase, which followed a revised 1.3% third-quarter decrease, reflected widespread rises in a variety of imported goods. Only the cost of crude oil and other imported fuels showed a decrease for the quarter, dropping 7.8% after plunging 9.0% in the previous three months.
By contract, prices for imported crude materials rose 5.5%, imported machinery costs rose 2.5%, intermediate manufacturing products rose 2.4% and chemical prices increased 2.3%.
Factoring out the big drop in energy prices, all other imported goods registered a 2.4% increase over the previous quarter.
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