The U.S. Bureau of Labor Statistics said U.S. import prices experienced a monthly increase of 0.1 percent due to higher fuel prices, while U.S. export prices ticked up 0.3 percent from a month prior.
The U.S. Bureau of Labor Statistics reported Thursday the price indexes for both U.S. imports and exports in September inched up from the prior month.
Prices for U.S. imports rose 0.1 percent month-over-month due to higher fuel prices. Import prices from China remained flat and have not risen on a monthly basis since December 2014. Meanwhile, September import prices from Japan, the European Union, Mexico and Canada all increased from August.
Fuel import prices rose 1.1 percent month-over-month in September thanks to a 1.2 percent increase in petroleum prices and a 0.8 percent rise in natural gas prices.
Prices for non-fuel imports remained flat in September compared to a month prior.
U.S. exports in September experienced a monthly increase of 0.3 percent as rising non-agricultural prices more than offset declining agricultural prices.
Non-agricultural export prices rose 0.4 percent month-over-month in September, driven by rising prices for non-agricultural industrial supplies and materials, and finished goods.
Agricultural export prices had a monthly decline of 1 percent as decreases in nut, soybean and corn prices offset higher prices for fruits and vegetables.
Overall, on a year-over-year basis, U.S. import prices slipped 1.1 percent, while U.S. export prices ticked up 0.3 percent in September.
U.S. import, export prices tick up in September
