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UPDATE 1-U.S. Sept import prices up 0.1 pct, gas costs slip

Published 10/14/2009, 08:39 AM
Updated 10/14/2009, 08:42 AM

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WASHINGTON, Oct 14 (Reuters) - U.S. import prices rose 0.1 percent in September as the price of imported petroleum dipped, the Labor Department said on Wednesday, making overall import prices slightly undershoot expectations.

The gain, compared with a 0.2 percent rise forecast by analysts polled by Reuters, was the sixth increase in the last seven months and followed a spike of 1.6 percent in August. This had originally been reported as a 2.0 percent jump.

September import prices compared with the same month last year were down by 12.0 percent.

The Labor Department data showed that the change was driven by a rise in the price of non-petroleum imports, which advanced 0.4 percent in September for the largest gain since July 2008. Imported petroleum prices fell 1.1 percent.

Export prices declined 0.3 percent in September after a 0.7 percent rise the previous month, and compared with a forecast for a 0.1 percent increase. It was the second decrease in U.S. export prices the last three months.

The downturn was led by lower prices for agricultural exports, which fell by 2.8 percent last month. Export prices in September compared with a year ago were down by 5.6 percent, the Labor Department said.

(Reporting by Alister Bull; Editing by Chizu Nomiyama)

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