Prices Of U.S. Imports Rise Slightly In October

ByJohn S. McClenahen A 1.1% increase in the price of petroleum nudged the U.S. Import Price Index up 0.1% in October, says the U.S. Department of Labor. The Import Price Index now stands at 95.7 (2000 = 100). The petroleum index, which has increased in nine of the past 10 months, has risen 64.8% since December 2001. In October, prices for imported non-petroleum industrial supplies and material, autos, and consumer goods increased. However, prices for imported capital goods and for foods, feeds and beverages fell last month. On trade's export side, the Labor Department's Export Price Index was unchanged in October, as a slight increase in the prices for non-agricultural exports was offset by a downturn in prices for corn, soybeans and other agricultural exports. The Export Price Index is 98.7 (2000 = 100).