BUSINESS US import, export prices up in September

BUSINESS

US import, export prices up in September

Xinhua

07:15, October 16, 2020

HOUSTON, Oct. 15 (Xinhua) -- U.S. import and export prices both rose in September, the U.S. Department of Labor reported on Thursday.

The price index for U.S. imports increased 0.3 percent in September, following advances of 1.0 percent in August, 1.2 percent in July, and 1.3 percent in June. Despite the recent increases, overall import prices declined 1.1 percent for the year ended in September. The price index for U.S. imports has not increased on a 12-month basis since January 2020.

The price index for U.S. imports from China was unchanged in September, following a 0.1-percent increase in August and a 0.2-percent advance in July. Import prices from China last declined on a monthly basis in May and were unchanged over the past 12 months.

Meanwhile, prices for U.S. exports increased 0.6 percent in September, after advancing 3.3 percent from April to August. In September, higher prices for both agricultural and nonagricultural exports contributed to the overall rise.

U.S. export prices to China edged down 0.1 percent in September, after advancing 6.4 percent from April to August. The price index for exports to China increased 0.4 percent for the year ended in September.

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