U.S. import and export prices advanced in October
According to the U.S. Bureau of Labor Statistics, U.S. import prices rose 0.9 percent in October. This increase was driven mainly by an advance in fuel prices, which are up 7.9 percent from a year earlier. Despite a downward trend between May and September, import prices rose 3.6 percent over the past 12 months. Export prices increased for the third consecutive month in October, rising 0.8 percent, and rose 5.8 percent over the past year. Prices for agricultural exports increased for the third consecutive month in October and are up 15.7 percent since October 2009.