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.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.