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ECON: Import Prices Significantly Higher Than Expected
Posted to: Micro News
Friday, November 9, 2012 8:44 AM
- Imports +0.5 pct vs +0.0 consensus, +1.1 previously
- Exports unchanged vs +0.2 consensus
Import prices rose for the third consecutive month in October, increasing 0.5 percent after a 1.1
percent advance in September and a 1.2 percent rise in August. This upturn was largely driven by higher fuel
prices, although nonfuel prices also increased in October and September. Led by the recent advances, overall
import prices ticked up 0.4 percent for the year ended in October, which was the first 12-month rise in
import prices since April.
Export prices recorded no change in October as rising nonagricultural prices were offset by a
downturn in prices for agricultural exports. The price index for overall exports had risen in each of the
previous three months, advancing 2.1 percent overall for the third quarter of 2012. Prices for overall exports
increased 1.4 percent over the past year, the first 12-month advance for the index since April.
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