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Oct. Import Prices Rise 0.5%; Export Prices Flat

WASHINGTON — U.S. October import prices printed up 0.5% (above expectations) but underlying data were more modest.

Import prices printed up 0.3% in nonfuels and just a 0.4% rise over the year, suggesting the headline far overstates any price pressures.

In imports, foods posted up 0.2%, autos rose 0.3% and non-oil industrial supplies grew 1.2% (their biggest jump since March 2012).

Fuel imports printed 1.2% higher and have advanced 12.3% over the past three months.

By country, import prices were mixed: Canada was up 0.5%, the EU rose 0.6%, the UK grew 0.6%, Latin America increased 0.7% and Japan added 0.3%; these were offset by a 0.3% decline for China.

Export prices were flat, and the print was up 0.2% ex-agriculture.

 

Market News International is a real-time global news service for fixed-income and foreign exchange market professionals. See www.marketnews.com.

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