“Prices for U.S. imports increased 0.5 percent in October after advancing 0.2 percent in September,” the U.S. Bureau of Labor Statistics announced on Thursday.
Key takeaways from the press release
- Prices for U.S. imports rose 3.5 percent from October 2017 to October 2018 and have not recorded an over-the-year decrease in 2 years when the index declined 0.2 in October 2016.
- Higher fuel and nonfuel prices contributed to the October increase.
- U.S. export prices advanced 0.4 percent in October, after recording no change in September.
- The October advance was the largest monthly increase since the index rose 0.7 percent in May.
- For the 12-month period ended in October, U.S. export prices advanced 3.1 percent.
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