US import and export price growth accelerates in November
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Import and export prices in the US increased significantly in November compared to October, according to data released by the Bureau of Labor Statistics on Friday.
US import and export price growth accelerates in November
US export prices rose 0.8% year-over-year in November, a sharp increase from the 0.1% recorded in October, marking the largest annual gain since July's 1.2%. On a monthly basis, export prices were unchanged in November, following a 1.0% rise in October.
US import prices climbed
Similarly, US import prices climbed 1.3% year-over-year in November, up from 0.6% in October, and the steepest increase since July's 1.7%. Monthly, import prices edged up by 0.1%, matching the pace seen in October.
"Higher fuel prices drove the November increase," the BLS noted.
