US import prices edge higher in September

The price of goods purchased from abroad edged higher in the States in September.

US import prices rose by 0.1% month-on-month in September, according to the Bureau of Labour Statistics, but were off by 1.1% against the year-ago period.

Economists had expected the gauge of import prices to advance by 0.1%.

Prices of fuel imports gained 1.1% in comparison to August while those of non-fuel imports were unchanged.

Export prices increased 0.3% over the month, as those for agricultural goods fell by 1.0% while those for non-agricultural ones advanced by 0.4%.