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US Import Prices Rise 0.1% December

By Dipo Olowookere

In the month of December 2017, the United States’ import prices marginally appreciated by 0.1 percent against 0.8 percent achieved in the previous month.

This was according to data released by the Labor Department yesterday made this revelation. It is the lowest gain recorded in five months, Business Post learned.

The figure was much less than expected in the month of December. Economists had expected import prices to rise by 0.5 percent compared to the 0.7 percent increase originally reported for the previous month.

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The report also showed an unexpected decrease in export prices, which edged down by 0.1 percent in December after rising by 0.5 percent in November. Export prices had expected to rise by 0.3 percent.

At 9 am ET, Chicago Federal Reserve President Charles Evans is due to discuss current economic conditions or monetary policy at the Lake Forest-Lake Bluff Rotary Club 2018 Economic Breakfast in Lake Forest, Illinois.

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The Commerce Department is scheduled to release its report on wholesale inventories in the month of December at 10 am ET. Wholesale inventories are expected to climb by 0.7 percent.

At 10:30 am ET, the Energy Information Administration is due to release its report on oil inventories in the week ended January 5th.

Crude oil inventories are expected to drop by 4.1 million barrels after slumping by 7.4 million barrels in the previous week.

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The Treasury Department is scheduled to announce the results of its auction of $20 billion worth of ten-year notes at 1 pm ET.

At 1:30 pm ET, St. Louis Fed President James Bullard is due to give presentation on the “U.S. Economy and Monetary Policy” at a 2018 Economic Outlook event in St. Louis.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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