A report released by the Labor Department on Thursday showed import prices in the U.S. increased in line with economist estimates in the month of September.
The Labor Department said import prices rose by 0.3 percent in September after jumping by an upwardly revised 1.0 percent in August.
Economists had expected import prices to rise by 0.3 percent compared to the 0.9 percent increase originally reported for the previous month.
The uptick in import prices came despite a sharp pullback in prices for fuel imports, which tumbled by 2.9 percent in September after surging up by 3.9 percent in August.
Prices for non-fuel imports advanced by 0.6 percent in September after climbing by 0.7 percent in August, with the continued increase primarily driven by higher prices for non-fuel industrial supplies and materials.
The report also said export prices climbed by 0.6 percent following the 0.5 percent advance seen in August. Export prices were expected to increase by 0.4 percent.
The stronger than expected export price growth came as prices for agricultural exports jumped by 2.7 percent in September after slumping by 2.3 percent in August.
Higher prices for soybeans, corn, fruit, cotton, wheat, nuts, and meat more than offset lower prices for dairy products and egg, leading to the biggest increase in prices for agricultural exports since December 2018.
Prices for non-agricultural exports also rose by 0.3 percent in September after climbing by 0.8 percent in the previous month.
Despite another monthly increase, import prices in September were down by 1.1 percent compared to the same month a year ago. Export prices were down by 1.8 percent year-over-year.
The material has been provided by InstaForex Company – www.instaforex.com
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.