Import prices increased 0.5% (3.5% y/y) during September following a 0.4% August decline, revised from -0.6%. A 0.2% rise had been expected in the Action Economics Forecast Survey. These figures are not seasonally adjusted.

Strength in import prices last month was paced by a 4.1% increase (32.1% y/y) in petroleum prices which followed a 2.3% fall. Nonpetroleum import prices held steady (0.6% y/y) following three consecutive months of decline. Industrial supplies & materials costs rose 1.5% (14.8% y/y) and reversed the August decline. Industrial materials prices excluding petroleum eased 0.5% (+4.1% y/y) after falling for two months. Capital goods prices held steady, both m/m and y/y, after a 0.1% dip. Motor vehicle & parts prices also were unchanged (0.1% y/y) for the third straight month. Nonauto consumer goods prices eased 0.1% (+0.6% y/y) following no change in August.

Export prices held steady last month (2.7% y/y) after a 0.2% slip, revised from -0.1%. A 0.1% rise in prices had been expected.

Agricultural commodities prices fell 1.4% (-2.3% y/y) after rising 0.3%. Nonagricultural costs improved 0.2% (3.3% y/y) and reversed the prior month's decline. Foods, feeds & beverage prices fell 1.4% (-2.6% y/y) following a 0.4% rise. The cost of industrial supplies & materials gained 0.2% (6.6% y/y) after two months of decline. Capital goods prices ticked 0.1% higher (1.9% y/y) for the fifth straight month. Motor vehicle & parts prices also improved 0.1% (0.7% y/y) after four months of little change. Nonauto consumer goods prices held steady (0.5% y/y) following a 0.1% dip.

The import and export price series can be found in Haver's USECON database. Detailed figures are available in the USINT database. The expectations figure from the Action Economics Forecast Survey is in the AS1REPNA database.