Import prices increased 0.7% in November from a month earlier, the Labor Department said Thursday.
Economists surveyed by The Wall Street Journal expected a 0.7% increase in import prices. Unlike most measures of inflation, import prices aren’t adjusted for seasonality. Import prices rose 3.1% from a year earlier. That’s faster than broader consumer inflation. The consumer-price index advanced 2.2% from a year earlier in November, the Labor Department said Wednesday.
Thursday’s report showed import prices excluding petroleum were up 0.1% in November from October. Imported petroleum prices increased 7.2% last month.
Source: Dow Jones