Investing.com - U.S. import prices were unexpectedly flat in December, confounding expectations for a modest increase, official data showed on Tuesday.
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In a report, the U.S. Bureau of Labor Statistics said U.S. import prices were unchanged in December from a month earlier, disappointing forecasts for a 0.3% gain. Import prices for November were revised down to a 0.9% decline from a previously reported drop of 0.6%.
Year-over-year, U.S. import prices fell at an annualized rate of 1.3% in December, following a 1.5% drop in October.
Following the release of the data, the U.S. dollar turned higher against the euro, with EUR/USD inching down 0.06% to trade at 1.3664, compared to 1.3674 ahead of the data.
Meanwhile, U.S. stock index futures pointed to a higher open. The Dow Jones Industrial Average futures pointed to a gain of 0.24%, S&P 500 futures indicated a rise of 0.25%, while the Nasdaq 100 futures signaled an increase of 0.3%.