US import prices edge up in September as energy costs bounce back
By Alexander Bueso
Date: Friday 11 Oct 2019
(Sharecast News) - US import prices edged higher unexpectedly last month as energy costs bounced back.
According to the Department of Labor, prices of imported goods rose at a 0.2% month-on-month pace in September (consensus: 0.0%), as fuel import costs jumped by 2.1% following a drop of 1.9% during the month before.
In parallel, non-fuel import prices edged up by 0.1%.
Labor also revised its estimate of import price gains for August higher to a fall of 0.2% versus July, instead of the preliminary estimate of -0.5%.
Yet versus a year ago import prices were remained 1.6% lower, although that was higher than the 2.1% retreat that economists had penciled-in.
On the export side of the equation, prices were down by 0.2% on the month, driven by a 1.8% decline in those for agricultural exports, while non-agricultural export prices slipped by a tenth of a percentage point.
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