{"id":134652,"date":"2023-10-18T00:59:18","date_gmt":"2023-10-18T00:59:18","guid":{"rendered":"https:\/\/fin2me.com\/?p=134652"},"modified":"2023-10-18T00:59:18","modified_gmt":"2023-10-18T00:59:18","slug":"u-s-import-prices-inch-up-much-less-than-expected-in-september","status":"publish","type":"post","link":"https:\/\/fin2me.com\/economy\/u-s-import-prices-inch-up-much-less-than-expected-in-september\/","title":{"rendered":"U.S. Import Prices Inch Up Much Less Than Expected In September"},"content":{"rendered":"

The Labor Department released a report on Friday showing U.S. import prices inched up by much less than expected in the month of September, although the report also showed a bigger than expected increase in U.S. export prices.<\/p>\n

The report said import prices crept up by 0.1 percent in September after climbing by an upwardly revised 0.6 percent in August.<\/p>\n

Economists had expected the pace of import price growth to match the 0.5 percent increase originally reported for the previous month.<\/p>\n

The uptick in import prices reflected a continued surge in prices for fuel imports, which spiked by 4.4 percent in September after soaring by 8.8 percent in August.<\/p>\n

Excluding fuel, import prices slipped by 0.2 percent for the second consecutive month amid lower prices for foods, feeds, and beverages; non-fuel industrial supplies and materials; capital goods; and automotive vehicles.<\/p>\n

The report said import prices in September were down by 1.7 percent compared to the same month a year ago, as prices for fuel imports plunged by 8.9 percent and prices for non-fuel imports slid by 0.8 percent.<\/p>\n

“Declining import prices for consumer goods and auto parts should minimize the risk of a resurgence in consumer inflation,” said Jeffrey Roach, Chief Economist for LPL Financial.<\/p>\n

He added, “Despite the disappointing CPI release yesterday, the Fed will likely keep rates unchanged in November as financial conditions tighten organically from the recent spike in bond yields.”<\/p>\n

Meanwhile, the Labor Department said export prices advanced by 0.7 percent in September after jumping by a downwardly revised 1.1 percent in August.<\/p>\n

Export prices were expected to climb by 0.5 percent compared to the 1.3 percent surge originally reported for the previous month.<\/p>\n

The bigger than expected increase in export prices came as prices for non-agricultural exports shot up by 1.0 percent, more than offsetting a 1.1 percent slump in prices for agricultural exports.<\/p>\n

Export prices in September were down by 4.1 percent compared to the same month a year ago, reflecting the smallest year-over-year decline since February. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Labor Department released a report on Friday showing U.S. import prices inched up by much less than expected in the month of September, although […]<\/p>\n","protected":false},"author":3,"featured_media":134651,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"yoast_head":"\nU.S. Import Prices Inch Up Much Less Than Expected In September - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/economy\/u-s-import-prices-inch-up-much-less-than-expected-in-september\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. Import Prices Inch Up Much Less Than Expected In September - Fin2me\" \/>\n<meta property=\"og:description\" content=\"The Labor Department released a report on Friday showing U.S. import prices inched up by much less than expected in the month of September, although [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/economy\/u-s-import-prices-inch-up-much-less-than-expected-in-september\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-18T00:59:18+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2023\/10\/U.S.-Import-Prices-Inch-Up-Much-Less-Than-Expected-In-September-.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/economy\/u-s-import-prices-inch-up-much-less-than-expected-in-september\/\",\"url\":\"https:\/\/fin2me.com\/economy\/u-s-import-prices-inch-up-much-less-than-expected-in-september\/\",\"name\":\"U.S. Import Prices Inch Up Much Less Than Expected In September - 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