UPDATE 1-U.S. import prices fall 0.3 percent in September

(Adds detail from report)

WASHINGTON, Oct 13 (BestGrowthStock) – U.S. import prices fell 0.3
percent in September, as a big drop in petroleum prices offset
gains in food and other non-fuel goods, a U.S. Labor Department
report showed on Wednesday.

Excluding petroleum, prices rose 0.3 percent after
increasing 0.2 percent in August.

The September decline in overall import prices followed a
0.6 percent rise in August.

Analysts surveyed before the report had expected import
prices to fall 0.2 percent in September.

Petroleum and fuel import prices both fell 3.1 percent in
September in their first month-to-month declines since June.

In the 12 months through September, overall import prices
rose 3.5 percent. That year-to-year rise has fallen from a high
of 11.4 percent in January.

In recent months, the year-on-year rise in non-petroleum
import prices also has slowed. In the 12 months through
September, they were up 2.9 percent.

However, a weakening U.S. dollar on expectations the
Federal Reserve will ease monetary policy further could push
the price of many imported goods higher in coming months.

U.S. export prices rose 0.6 percent in September, much more
than a consensus forecast for a 0.2 percent increase before the
report. It was the second consecutive monthly increase.

Agricultural export prices led the way, rising 2.4 percent,
while food, feed and beverage prices were up 2.2 percent.

Compared to September last year, export prices were up 5.0
percent.

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Graphic showing import prices

http://link.reuters.com/jen38p

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(Reporting by Doug Palmer; Editing by Andrea Ricci)

UPDATE 1-U.S. import prices fall 0.3 percent in September