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Producer prices for final demand increased 6.2 percent from December 2021 to December 2022. This price increase was smaller than the December 2020 to December 2021 increase (10.0 percent).
read full article »Prices for U.S. exports rose 5.0 percent from December 2021 to December 2022, the smallest over-the-year advance since a 2.5-percent increase in January 2021. Prices for agricultural exports increased 9.2 percent in 2022. Nonagricultural export prices increased 4.4 percent over the past 12 months, despite falling in December and July.
U.S. import prices increased 3.5 percent over the 12 months from December 2021 to December 2022. Overall import prices increased 10.3 percent from December 2020 to December 2021. Import fuels and lubricants prices increased 19.4 percent from December 2021 to December 2022, as prices increased for both petroleum and natural gas over this period. Over the 12 months from December 2020 to December 2021, prices for imported fuels and lubricants prices increased 60.9 percent.
Real average hourly earnings for all employees decreased 1.7 percent from December 2021 to December 2022. The change in real average hourly earnings combined with a decrease of 1.4 percent in the average workweek resulted in a 3.1-percent decrease in real average weekly earnings over this period.
Consumer prices for all items rose 6.5 percent from December 2021 to December 2022. Food prices increased 10.4 percent, reflecting an 11.8-percent increase in prices for food at home and an 8.3-percent increase in prices for food away from home.