The rise followed a 0.2 percent increase in September. U.S. export prices advanced 0.3 percent in October after decreasing 0.2 percent the previous month.
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All Imports: The increase in U.S. imports in October continued the recent upward trend for the index.
Import prices have risen in seven of the past eight months and were up 8.1 percent over that period. Despite the recent increases, import prices declined 5.7 percent for the year ended in October driven by a 12.8 percent drop in prices between October 2008 and January 2009.
Fuel Imports: Prices for import fuel advanced 1.8 percent in October after a 1.5 percent decline the previous month. A 24.1 percent increase in natural gas prices led the overall advance in October, while petroleum prices were also a contributing factor, advancing 0.9 percent.
However, the price indexes for natural gas and petroleum both declined over the past year, falling 46.4 percent and 12.2 percent, respectively.
All Imports Excluding Fuel: Nonfuel import prices rose 0.4 percent in October as higher prices for industrial supplies and materials, finished goods, and foods, feeds, and beverages all contributed to the advance. Prices for nonfuel imports rose between 0.4 percent and 0.5 percent in each of the past three months, the largest monthly advances since a 0.6 percent increase in July 2008.
The index declined 2.9 percent over the past 12 months as sharp decreases at the end of 2008 more than offset the recent rises.
Source of information BLS
Wireless Reading Device Original content Bob DeMarco, All American Investor
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