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.