US import, export prices rise in September, less than estimates

Annually, however, exports decline 4.1%, imports fall 1.7%

By Ovunc Kutlu

ISTANBUL (AA) – US import and export prices rose in September on a monthly basis, both coming in less than market expectations, according to data released Friday by the Labor Department's Bureau of Labor Statistics.

Prices for US imports increased 0.1% last month, after rising 0.6% in August. The market estimates for the figure was to show a 0.5% gain.

"U.S. import prices last declined on a monthly basis in June, and advanced 0.9 percent in the third quarter of 2023," the agency said in a statement.

Export prices rose 0.7% in September, following a gain of 1.1% in August. The figure also came lower than expectations of a 0.5% increase.

On an annual basis, however, prices for US exports decreased 4.1% in September, according to the Bureau of Labor Statistics, adding "The 12-month drop in September was the smallest over-the-year decline since February 2023."

The price index for US imports in September declined 1.7% year-on-year, it added.

Kaynak:

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