US import prices undershoot forecasts in September

(Sharecast News) - The cost of imported goods in the States rose by less than anticipated last month. According to the U.S. Department of Labor, the country's import price index edged up by 0.1% in September in month-on-month terms.

Economists had penciled in an increase of 0.6%.

Fuel import costs jumped by 4.4% on the month, following a gain of 8.8% in August, but were largely offset by a 0.2% dip in the prices of non-fuel imports.

Export prices meanwhile jumped by 0.7%, even as prices of agricultural exports fell by 1.1%.

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