US: Prices for US imports rose 0.5% in October vs 0.1% expected

"Prices for U.S. imports increased 0.5 percent in October after advancing 0.2 percent in September," the U.S. Bureau of Labor Statistics announced on Thursday.

Key takeaways from the press release

• Prices for U.S. imports rose 3.5 percent from October 2017 to October 2018 and have not recorded an over-the-year decrease in 2 years when the index declined 0.2 in October 2016.
  • Higher fuel and nonfuel prices contributed to the October increase.
• U.S. export prices advanced 0.4 percent in October, after recording no change in September.
  • The October advance was the largest monthly increase since the index rose 0.7 percent in May.
  • For the 12-month period ended in October, U.S. export prices advanced 3.1 percent.