U.S. import prices rose 0.5% in September, while export prices were flat
U.S. import prices rose 0.5% in September, while export prices were flat, both a little better than forecast. The 0.6% drop in August import prices was revised up to -0.4%, while the 0.1% slip in export prices was bumped down to -0.2%. Compared to last September, import prices slowed to 3.5% y/y versus 3.8% y/y (revised from 3.7% y/y), with export prices sliding to 2.7% y/y from 3.5% y/y (revised from 3.6% y/y). As for imports, petroleum prices bounced 4.1% versus -2.3% (revised from -3.9%). Excluding petroleum, prices were unchanged from -0.2%. Import prices with China dipped 0.1%, the same as in August. Import prices with Canada bounced 0.7% from -0.6% (revised from -1.5%). As for exports, agricultural prices dropped 1.4% from 0.3% (revised from 0.2%). Excluding ag, prices were up 0.2% from -0.2%.