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US import price index rebounds in September

U.S. import prices rose more than expected in September driven by higher fuel prices, data from the U.S. Bureau of Labor Statistics showed.

The import price index ticked up 0.5% month over month, compared with a revised 0.4% decline in August. Econoday had projected a 0.2% increase. The monthly gain was the first since May.

Prices for fuel imports rose 3.8%, while those for nonfuel products held steady.

Import prices from China slipped 0.1% for the third straight month.

Export prices were unchanged in September following a revised 0.2% decline in the previous month. Prices for agricultural exports were down 1.4%, while those for non-agricultural products gained 0.2%.

Year over year, import and export prices grew 3.5% and 2.7%, respectively.