Petroleum Pushes Import Prices, Agriculture Products Move Export Prices
Both import and export prices were up for September, according to a Labor Department report (link opens as PDF) released today.
Import prices increased 0.2% for September, matching analyst expectations, after experiencing equivalent revised growth in August. Petroleum prices proved to be the main push behind the price increase. While non-fuel imports edged up 0.1%, fuel imports jumped 0.6%.
Source: Labor Department.
After falling 1% in August, export prices made a 0.3% September comeback, beating analyst expectations of a 0.1% decrease. Export prices have been dropping since March, but this latest boost comes primarily from a rebound in agricultural prices. Prices for agricultural exports increased 0.7%, while non-agricultural export prices also bumped up 0.3%.
On a regional basis, import prices from Japan fell 0.2%, while China imports edged up 0.1% in price and EU import prices increased 0.4%.
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