U.S. Import Prices Edge Up for Second-Straight Month on Higher Fuel Costs

By Ed Frankl

U.S. import prices rose unexpectedly in November, and for a second month in a row, driven by fuel prices that rose on geopolitical tensions.

Prices were 0.1% higher last month, the same as in October, Labor Department data said Friday. Economists polled by The Wall Street Journal had expected a 0.2% decline.

Higher fuel prices led the November rise, according to the Labor Department. Import petroleum prices advanced 0.4% in November, as Middle East tensions increased, coming after a slump of 12% between July and October. Non-petroleum prices rose 0.2%, the data said.

Write to Ed Frankl at [e-mail]

(END) Dow Jones Newswires

12-13-24 0853ET