U.S. Import, Export Prices Unexpectedly Unchanged In September

(RTTNews) - The Labor Department released a long-delayed report on Wednesday showing U.S. import and exports both came in flat in the month of September.

The report said import prices came in unchanged in September following a downwardly revised 0.1 percent uptick in August.

Economists had expected import prices to inch up by 0.1 percent compared to the 0.3 percent increase originally reported for the previous month.

The Labor Department said import prices in September were up by 0.3 percent compared to the same month a year ago, marking the first over-the-year increase since March.

Import prices came in unchanged compared to the previous month as lower prices for fuel imports offset higher prices for non-fuel imports.

Prices for fuel imports tumbled by 1.5 percent in September after falling by 0.5 percent in August, while prices for non-fuel imports rose by 0.2 percent in September after inching up by 0.1 percent in August.

The Labor Department said export prices also came in unchanged in September following a downwardly revised 0.1 percent uptick in August.

Economists had expected export prices to creep up by 0.1 percent compared to the 0.3 percent growth originally reported for the previous month.

The report said the annual rate of growth by export prices accelerated to 3.8 percent in September from 3.4 percent in August, reflecting the largest over-the-year advance since December 2022.

The Labor Department also said prices for agricultural exports rose by 0.3 percent in September after slipping by 0.2 percent in August, while prices for non-agricultural exports were unchanged in September after inching up by 0.1 percent in August.