Keeping you up to date on the latest data releases.
U.S. import prices posted 0.3 percent gains in September, up from August’s revised 0.2 percent decline (0.4 percent, previously). On a year-over-year basis, import prices rose 13.4 percent despite month-to-month declines in two of the past four months. The main driver behind September’s uptick was a 0.3 percent increase in petroleum prices, which marked the first increase in three months. On a yearly basis, petroleum prices posted a 45.9 percent advance, up from August’s 43.6 percent gain. Non-oil import prices, up 0.2 percent, increased for the third consecutive month. Rising nonfuel industrial supplies and materials prices (up 0.7 percent) were a major contributor to non-oil import gains along with foods, feeds and beverages (up 0.5 percent). Compared to a year ago, non-oil import prices advanced 5.5 percent.
U.S. export prices edged up 0.4 percent in September, extending August’s 0.5 percent increase. Higher prices for both agricultural exports (up 1.6 percent) and non-agricultural exports (up 0.3 percent) contributed to the monthly advance. Year-over-year, export prices rose 9.5 percent in September similar to last month’s 9.6 percent yearly gain.