Economic Buzz: US import prices inch up in December

Import prices in the U.S. crept up in line with estimates in the month of December, according to a report released by the Labor Department on Tuesday.

The Labor Department said import prices inched up by 0.1 percent in December, in line with expectations.

While the report also said export prices rose by 0.3 percent in December, economists had expected export prices to tick up by 0.1 percent.

Import prices were unchanged compared to the same month a year ago, while export prices jumped by 3.1 percent year-over-year.

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