US import prices edge up in November as energy costs bounce back

(Sharecast News) - US import prices rose more or less as expected last month on the back of dearer energy.

According to the US Department of Labor, in seasonally adjusted terms, import prices edged up at a month-on-month pace of 0.1%.

Economists had forecast a decline of 0.2%.

However, the larger-than-expected gain was offset by a downwards revision of two tenths of a percentage point to October's estimate to 0.1%.

Fuel import prices were entirely responsible for November's increase, bouncing back by 1.0% after the three straight months of much sharper declines.

Nonfuel import prices on the other hand were flat.

Export prices were also unchanged versus October, held back by a 0.4% drop in those for agricultural exports.