U.S. Nov import prices post largest gain in a year

WASHINGTON, Dec 10 (BestGrowthStock) – U.S. import prices in
November rose at their fastest pace in a year as petroleum and
food costs maintained their upward trend, according to a
government report on Friday that hinted at a pick up in
imported inflation.

Import prices jumped 1.3 percent, the largest rise sinceNovember 2009, after advancing by a revised 1.0 percent in
October, the Labor Department said.

Analysts polled by Reuters had forecast import prices
rising 0.8 percent last month from a previously reported 0.9
percent increase in October. In the 12 months to November,
import prices increased 3.7 percent.

Export prices surged 1.5 percent, the biggest increase
since July 2008, after rising 0.8 percent in October.
Economists had expected export prices to increase 0.6 percent.

Compared to November last year, export prices were up 6.5
percent, the largest gain since September 2008.

(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)

U.S. Nov import prices post largest gain in a year