Prices for U.S. imports increased 0.5 percent in October, the U.S. Bureau of Labor Statistics reported today, after advancing 0.2 percent in September. Higher fuel and nonfuel prices contributed to the October increase. U.S. export prices advanced 0.4 percent in October after recording no change in September. Imports Import prices advanced 0.5 percent in October, the largest monthly increase since a 0.9-percent rise in May. Prices for U.S. imports rose 3.5 percent from October 2017 to October 2018 and have not recorded an over- the-year decrease in 2 years when the index declined 0.2 in October 2016. (See table 1.) ... (full story)

U.S. import prices increased more than expected in October, boosted by a surge in petroleum and food prices, but underlying imported inflation pressures remained tame amid a strong dollar. The Labor Department said on Thursday import prices rose 0.5 percent last month after a downwardly revised 0.2 percent gain in September. Economists polled by Reuters had forecast import prices gaining 0.1 percent in October after a previously reported 0.5 percent increase in September. In the 12 months through October, import prices advanced 3.5 percent after rising 3.1 percent in September. Last month, prices for imported fuels ... (full story)