U.S. import prices rise modestly, non-oil prices drop By Reuters

U.S. import prices rise modestly, non-oil prices drop

WASHINGTON, (Reuters) – U.S. import prices rose modestly in September and were lower for goods excluding oil, suggesting that imported inflation could remain subdued.

The Labor Department said on Friday import prices increased 0.2% last month. Economists polled by Reuters had forecast import prices would be unchanged during the month.

Data for August was revised to show import prices dropping 0.2% instead of the 0.5% decline previously reported.

September’s increase in prices was driven by higher petroleum costs, which rose 2.3%. Outside of petroleum, import prices were 0.1% lower.

In the 12 months through September, import prices decreased 1.6%.

That suggests inflation will likely remain moderate. Data published on Thursday showed U.S. consumer prices were unchanged in September and underlying inflation retreated, supporting expectations the U.S. Federal Reserve will cut interest rates in October for the third time this year amid risks to the economy from trade tensions.

The Fed cut rates in July for the first time since 2008.

Import prices exclude tariffs. Excluding fuels and food, import prices were unchanged last month. Core import prices decreased 1.1% in the 12 months through September.

The report also showed export prices fell 0.2% in September. Export prices dropped 1.6% on a year-on-year basis.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave a Reply

Your email address will not be published. Required fields are marked *