Import and Export Price Indexes for January 2022

The Labor Department's Bureau of Labor Statistics this morning released its report on U.S. Import and Export Price Indexes for January 2022:

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Import Prices
Predicted: +1.5%
Actual: +2.0%

Change From 12 Months Previous: +10.8%

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Export Prices
Predicted: +2.0%
Actual: +2.9%

Change From 12 Months Previous: +15.1%

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The above percentages, highlighted in yellow, represent the month-to-month change in prices for:

• Imports: the cost of goods produced in other countries and sold in the United States.
• Exports: the cost of goods produced in the USA and sold in other countries.

Together, these indexes offer insight into the status of inflation in the United States, and for the global economy as well. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

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From Today's Report:

"...U.S. import prices advanced 2.0 percent in January resuming the upward trend recorded over most of 2021 following a 0.4-percent decline in December. The January increase was the largest monthly rise since April 2011. Prices for U.S. imports advanced 10.8 percent over the past year, led by higher fuel and nonfuel prices..."

"...Prices for U.S. exports increased 2.9 percent in January following a 1.6-percent decline the previous month. The January advance was the largest 1-month rise since monthly percent changes were first published in January 1989. Higher prices for both agricultural and nonagricultural exports in January contributed to the overall increase in U.S. export prices. The price index for U.S. exports advanced 15.1 percent from January 2021 to January 2022..."

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• Click here to view the full Labor Department report.

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