U.S. import prices advanced 0.5 percent in October, the U.S. Bureau of Labor Statistics reported today, after a 0.2-percent increase in September. The October increase was driven by higher fuel prices which more than offset declining nonfuel prices. The price index for U.S. exports increased 0.2 percent in October following a 0.3-percent advance the previous month.

U.S. export prices increased 0.2 percent in October following a 0.3-percent advance in September. In October, higher agricultural and nonagricultural prices both contributed to the overall advance. Despite the recent increases, prices for U.S. exports fell over the past year, declining 1.1 percent.
The over-the-year drop in export prices was the smallest 12-month decrease since the index fell 0.7 percent in October 2014.