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- U.S. import-price index rises less than expected in November
U.S. import-price index rises less than expected in November
The Labor
Department reported on Tuesday the import-price index, measuring the cost of
goods ranging from Canadian oil to Chinese electronics, edged up 0.1 percent
m-o-m in November, following an unrevised 0.1 percent m-o-m drop in October. Economists had expected prices to advance 0.3 percent m-o-m last
month.
According to
the report, the November decline was driven by a drop in prices for nonfuel
imports (-0.3 percent m-o-m), which, however, was partially offset by a climb
in import fuel prices (+4.3percent m-o-m).
Over the
12-month period ended in November, import prices fell 1.0 percent, due to a
plunge in import fuel prices (-24.6 percent), which more than offset a gain in
import nonfuel prices (+1.6 percent).
Meanwhile, the
price index for U.S. exports increased 0.6 percent m-o-m in November, following
an unrevised 0.2 percent m-o-m gain in the previous month. The November advance
was driven by higher prices for both agricultural exports (+3.7 percent m-o-m)
and nonagricultural exports (+0.3 percent m-o-m).
Over the past
12 months, the price index for exports dropped 1.1 percent, reflecting a
decline in prices of nonagricultural (-1.7 percent) exports, which more than offset
higher agricultural export prices (+4.4 percent).
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