Import prices increased 0.7% in November from a month earlier, the Labor Department said Thursday.
Economists surveyed by The Wall Street Journal expected a 0.7% increase in import prices. Unlike most measures of inflation, import prices aren't adjusted for seasonality. Import prices rose 3.1% from a year earlier. That's faster than broader consumer inflation. The consumer-price index advanced 2.2% from a year earlier in November, the Labor Department said Wednesday.
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Thursday's report showed import prices excluding petroleum were up 0.1% in November from October. Imported petroleum prices increased 7.2% last month.
Prices for U.S. exports were up 0.5% in November from a month earlier. From a year earlier, export prices were up 3.1%. The Labor Department report on import and export prices can be accessed at:
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(END) Dow Jones Newswires
December 14, 2017 08:58 ET (13:58 GMT)