WASHINGTON (dpa-AFX) - Import and export prices in the U.S. both increased by far more than anticipated in the month of September, according to a report released by the Labor Department on Friday.
The Labor Department said import prices shot up by 1.1 percent in September after rising by a downwardly revised 0.5 percent in August.
Economists had expected import prices to climb by 0.6 percent compared to the 0.7 percent increase originally reported for the previous month.
The report also said the annual rate of import price growth accelerated to 8.1 percent in September from 6.7 percent in August, reaching the fastest rate of growth since July 2022.
The bigger-than-expected monthly increase in import prices partly reflected a spike in prices for fuel imports, which surged by 4.8 percent in September after dipping by 0.2 percent in August.
However, prices for non-fuel imports also climbed by 0.7 percent in September after rising by 0.6 percent in August and have not declined on a monthly basis since August 2025.
Higher prices for capital goods, non-fuel industrial supplies and materials, consumer goods, excluding automotives, as well as automotive vehicles, parts and engines drove the increase in September.
'Computer and semiconductor prices continue to push capital goods prices higher as the rapid buildout of AI infrastructure remains clearly evident in the data,' said Matthew Martin, Senior U.S. Economist at Oxford Economics.
Meanwhile, the report said export prices also surged by 2.2 percent in September after jumping by an upwardly revised 1.2 percent in August.
Economists had expected export prices to advance by 0.9 percent compared to the 0.6 percent growth originally reported for the previous month.
The Labor Department said the annual rate of export price growth accelerated to 11.6 percent in September from 9.3 percent in August, reflecting the biggest year-over-year increase since July 2022.
The report said prices for agricultural exports spiked by 2.6 percent in September after rising by 0.4 percent in August, while prices for non-agricultural exports shot up by 2.1 percent in September after jumping by 1.3 percent in August.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
