October 2012 U.S. Import and Export Price Indexes — 2012-11-09

The price index for U.S. imports rose 0.5 percent in October, the U.S. Bureau of Labor Statistics reported today, following increases for each of the previous two months. Higher fuel and nonfuel prices each contributed to the October advance. U.S. export prices were unchanged in October after increasing 0.8 percent in September. All Imports: Import prices rose for the third consecutive month in October, increasing 0.5 percent after a 1.1 percent advance in September and a 1.2 percent rise in August. This upturn was largely driven by higher fuel prices, although nonfuel prices also increased in October and September. Led by the recent advances, overall import prices ticked up 0.4 percent for the year ended in October, which was the first 12-month rise in import prices since April. Fuel Imports: Fuel prices increased 1.2 percent in October following advances of 4.5 percent in September and 6.1 percent in August.