Keeping you up to date on the latest data releases.
Import prices rose 0.5 percent in October after increasing 1.2 percent in September. October marks the third consecutive month of monthly increases with rising petroleum and nonpetroleum prices driving the gains. Petroleum and nonpetroleum prices rose for the second consecutive month with the former advancing 1.3 percent and the latter rising 0.4 percent. On a year-over-year basis, petroleum prices are up 2.0 percent in October after average 5.7 percent declines in the third quarter of this year. Nonpetroleum prices fell 0.3 percent compared to October of last year marking the fifth consecutive month of year-over-year declines. The overall import price index is up 0.4 percent on a yearly basis, the first increase since April of this year. After seeing weak reports throughout most of the second and third quarters, October’s report shows strength similar to September’s.
Export prices were flat from September to October after increasing 0.8 percent from August to September. Nonagricultural prices rose 0.2 percent and agricultural prices fell −1.9 percent. On a year-over-year basis, export prices increased 1.4 percent, the first increase since April of this year.