US import prices rise 1.1%, posting largest annual gain in more than four years
TLT•US import prices rose 1.1% in September, above economists’ 0.8% forecast, and were up 8.1% from a year earlier—the largest annual gain since July 2022.
1. Prices rise faster
Import prices increased 1.1% in September after a downwardly revised 0.5% rise in August. The 12-month increase accelerated to 8.1% from 6.7% in August.
2. Energy and goods costs
Imported fuel prices rebounded 4.8%, while prices excluding food and fuels rose 0.7%. Capital goods prices increased 0.9%, and prices for imported consumer goods excluding automotives rose 0.4%.
3. Inflation outlook
The report followed strong consumer and producer price increases. Financial markets still expected the Federal Reserve to hold rates later this month and tighten policy in December. Import air passenger fares surged 12.6%, a rise that could affect estimates of the Fed-tracked PCE inflation indexes.
