US Import and Export Prices increase in October

Intelligent Economics > Analysis > US Import and Export Prices increase in October

The price index for imports to the US rose 1.2% following a 0.4% advance in September. The increase is mostly due to an increase of fuel and non-fuel prices. Export prices increased by 1.5% in October, this is the third consecutive month with an increase. Import prices compared to October 2020 rose by 10.7%, the largest year-over-year increase since June 2021. Import prices excluding fuel rose by 0.4%, mostly due to an increase of industrial supplies and materials (0.9%), automotive vehicles and foods. In October, higher prices in agricultural and nonagricultural exports contributed to the rise. Nonagricultural exports rose 1.5% in October and have been increasing for a year now. Export fuels rose by 7% contributing the most for the nonagricultural category. 

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