Higher US export prices in September

Prices for U.S. imports increased 0.1 percent in September, the U.S. Bureau of Labor Statistics reported today, following a 0.2-percent decline the previous month. The September advance was led by higher fuel prices. U.S. export prices rose 0.3 percent in September, after decreasing 0.8 percent in August.

U.S. import prices resumed an upward trend in September, increasing 0.1 percent, after a 0.2 percent decline in August. Prior to August, import prices had risen in each of the previous 5 months, advancing 3.1 percent between February and July. Despite those increases, import prices continue to decline
on a 12-month basis, falling 1.1 percent between September 2015 and September 2016. The 1.1 percent decrease was the smallest drop on an over-the-year basis since the index fell 0.3 percent in August 2014.

The price index for overall exports increased 0.3 percent in September, as rising nonagricultural prices more than offset declining agricultural prices. The advance followed a 0.8-percent drop the previous month and resumed an upward trend dating back to April. U.S. export prices fell 1.5 percent for the year ended in September, the smallest 12-month decline since the index decreased 0.7 percent in October 2014.