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- U.S. import-price index rises in line with forecast in September
U.S. import-price index rises in line with forecast in September
The Labor
Department reported on Thursday the import-price index, measuring the cost of
goods ranging from Canadian oil to Chinese electronics, rose 0.3 percent m-o-m
in September, following a revised 1.0 percent m-o-m gain in August (originally
a 0.9 percent m-o-m rise). Economists had expected prices to advance 0.3
percent m-o-m last month.
According to
the report, the September advance was driven by rising prices for nonfuel
imports (+0.6 percent m-o-m), which more than offset lower fuel prices (-2.9
percent m-o-m).
Over the
12-month period ended in September, import prices fell 1.1 percent, due to a
tumble in fuel prices (-25.2 percent), while more than offset an advance in nonfuel
prices (+1.5 percent).
Meanwhile, the
price index for U.S. exports increased 0.6 percent m-o-m in September,
following an unrevised 0.5 percent m-o-m advance in the previous month.
Prices for both
nonagricultural (+0.3 percent m-o-m) and agricultural (+2.7 percent m-o-m)
exports contributed to the September increase.
Over the past
12 months, the price index for exports dropped 1.8 percent, reflecting a
decline in prices of nonagricultural (-2.2 percent) exports, which more than higher
agricultural export prices (+1.3 percent).
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