US Import Prices Rise 0.2% in January as Export Prices Climb 0.6%

US import prices rose 0.2% in January, matching December's gain, though they remain 0.1% lower than a year ago. Fuel import prices fell 2.2%, with petroleum dropping 2.7% and fuel imports down 13.4% year-on-year. Nonfuel import prices rose 0.5%, gaining 1.2% over the past year. Export prices climbed 0.6% for the second straight month, up 2.6% year-on-year. Agricultural export prices rose 0.2%, while non-agricultural exports gained 0.7%. Import prices from China rose 0.3%, the largest monthly gain since October 2022, although they remain 2.6% lower year-on-year. Canada import prices gained 0.4%, while EU and Mexico import prices fell 0.1% and 0.2%, respectively. Export air passenger fares surged 13.2%, the largest monthly rise since November 2020, while import air passenger fares dropped 10.1%, their steepest fall since July 2025.