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The Labor Department said on Thursday that import prices gained
0.2 percent last month after an upwardly revised 0.8 percent
jump in September. Economists polled by Reuters had forecast
import prices increasing 0.4 percent in October after a
previously reported 0.7 percent gain in September.
In the 12 months through October, import prices increased 2.5
percent, slowing after a 2.7 percent rise in September.
Last month, prices for imported petroleum increased 1.7 percent
after surging 6.3 percent in September. Import prices excluding
petroleum edged up 0.1 percent after shooting up 0.4 percent the
prior month. Import prices excluding petroleum rose 1.4 percent
in the 12 months through October.
A weak dollar, which has this year lost 5.4 percent of its value
against the currencies of the United States' main trading
partners, could keep import prices outside petroleum supported.
Imported capital goods prices rose 0.2 percent last month, while
the cost of imported food fell 0.2 percent.
The report also showed export prices were unchanged in October
as the biggest monthly increase in the price of agricultural
exports in nearly 1-1/2 years was eclipsed by a drop in
nonagricultural prices. Export prices rose 0.7 percent in
September. They increased 2.7 percent year-on-year after rising
2.8 percent in September.
((Reporting By Lucia Mutikani; Editing by Andrea Ricci))
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