October 2016 U.S. Import and Export Price Indexes — 2016-11-15

U.S. import prices advanced 0.5 percent in October, the U.S. Bureau of Labor Statistics reported today, after a 0.2-percent increase in September. The October increase was driven by higher fuel prices which more than offset declining nonfuel prices. The price index for U.S. exports increased 0.2 percent in October following a 0.3-percent advance the previous month. All Imports: Prices for U.S. imports rose for the second consecutive month, advancing 0.5 percent in October following a 0.2-percent advance the previous month. Import prices fell 0.2 percent in August, the only monthly decline since February. Despite trending up over most of 2016, import prices edged down 0.2 percent for the year ended in October. Fuel Imports: The price index for import fuel rose 7.2 percent in October, after a 1.5-percent advance in September and monthly declines in August and July.