U.S. import prices rose modestly in September and were lower for goods excluding oil, suggesting that imported inflation could remain subdued.
The Labor Department said on Friday import prices increased 0.2% last month. Economists polled by Reuters had forecast import prices would be unchanged during the month.
Data for August was revised to show import prices dropping 0.2% instead of the 0.5% decline previously reported.
September’s increase in prices was driven by higher petroleum costs, which rose 2.3%. Outside of petroleum, import prices were 0.1% lower.