WASHINGTON — U.S. import prices rose 1.1% in September, rising for the first time in four months on a monthly basis, the Bureau of Labor Statistics reported Thursday.
The 1.1% rise was led by an increase in fuel prices which rose by 4.4%, although nonfuel prices increased as well. Within the fuel price rise, petroleum import prices increased 4.6%.
Excluding food and fuels, import prices increased 0.1% in September compared to a 0.2% drop in August.
Import prices over the past 12 months are lower by 0.6% and excluding petroleum are down 0.9%.
Non-fuel import prices saw a 0.2% increase September but are down 0.5% over the last 12 months.
The BLS said the rise in non-fuel import prices was led by higher prices for foods, feeds and beverages (+1.7%), finished goods (+0.2%) and autos (+0.3%) which offset declines in prices for nonfuel industrial supplies and materials (-0.2%).
By region, prices for imports from China fell 0.1% in September, while prices of imports from Canada rose 1.5%. Import prices from the European fell 0.1%.
The BLS reported that export prices decreased by 0.5% in September and 0.9% on a year-over-year basis.
Agricultural export prices increased 1.1% and are up 6.7% year over year. Nonagricultural export prices also rose (0.7%) but are down 1.5% over the past year.
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