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- U.S. import-price index up 0.2 percent in November
U.S. import-price index up 0.2 percent in November
The Labor
Department reported on Friday the import-price index, measuring the cost of
goods ranging from Canadian oil to Chinese electronics, rose 0.2 percent m-o-m
in November, following an unrevised 0.5 percent m-o-m drop in October.
Economists had expected prices to advance 0.2 percent m-o-m last month.
According to
the report, the November gain was driven by higher fuel prices (+2.6 percent
m-o-m), which more than offset lower nonfuel prices (-0.1 percent m-o-m).
Over the
12-month period ended in November, import prices dropped 1.3 percent, weighed
down by a decline in nonfuel prices (-1.4 percent), which, however, was partially
offset by a gain in fuel prices (+0.8 percent).
Meanwhile, the
price index for U.S. exports also increased 0.2 percent m-o-m in November,
following an unrevised 0.1 percent m-o-m fall in the previous month.
Higher
agricultural prices (+2.2 percent m-o-m) led the November increase, while prices
for nonagricultural exports were unchanged.
Over the past
12 months, the price index for exports dropped 1.3 percent, weighed down by
lower prices for nonagricultural exports (-1.6 percent), while agricultural
prices surged (+2.5 percent).
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