The report published
by the Labor Department on Friday revealed the U.S. import-price index advanced
0.1 per cent m-o-m in November, following a downwardly revised 0.1 per cent m-o-m
gain (from +0.3 per cent m-o-m) in October.
Economists had expected
import prices to drop 0.2 per cent m-o-m last month.
According to
the report, the November gain was due to a 1.0 per cent m-o-m jump in fuel
import prices. Meanwhile, prices for non-fuel
imports were flat m-o-m.
Over the
12-month period that ended in November, import prices surged 1.3 per cent,
recording the strongest 12-month rise since July (+1.7 per cent)), which reflected a 2.3 per
cent climb in non-fuel prices that was partially offset by an 8.6 per cent plunge
in fuel prices.
The report also
showed that the price index for U.S. exports was unchanged m-o-m in November, following an upwardly
revised 1.0 per cent m-o-m soar (from +0.8 per cent m-o-m) in the previous
month.
Economists had predicted
export prices to slip 0.2 per cent m-o-m in November.
The November
flat performance of the U.S.
export-price index reflected a
0.1 per cent m-o-m uptick in prices for non-agricultural exports that was negated by a 0.4 per cent m-o-m decline in prices for agricultural exports.
Over the past
12 months, the price index for exports jumped 0.8 per cent, the most since July
(+1.2 per cent), as a 1.2 per cent m-o-m rise in prices of non-agricultural
exports more than offset a 2.5 per cent decrease in prices of agricultural
exports.