WASHINGTON — Import prices fell more than economists expected in September, dropping 0.3% due to lower fuel prices, the Labor Department reported Wednesday.
Economists expected a 0.2% decline in import prices, according to the median estimate from Thomson Reuters.
Export prices rose 0.6% following an 0.8% increase in August. Import prices excluding fuel expanded 0.3% and prices excluding petroleum rose 0.3% to post their largest gain since May.
Import prices for August were unrevised at a 0.6% increase. Fuel imports, which increased in August and July, dropped 3.1% as gasoline and natural gas prices fell. Prices for nonfuel imports rose for the second consecutive month.
Nonfuel industrial supplies and material prices increased 1.3% in September, the largest gain since May. Import prices for capital goods were flat and auto prices increased 0.2% to post their third consecutive monthly expansion.
