FX.co ★ US Exports Prices Rise Most in 5 Months

US export prices rose 2.2% in September, the largest monthly increase since April, accelerating from a 1.2% gain in August and far exceeding the 1% market consensus. Nonagricultural export prices were up 2.1%, after a 1.3% increase in the prior month, driven by higher prices for industrial supplies and materials, capital goods, consumer goods excluding automobiles, and automotive vehicles, parts, and engines. Agricultural export prices climbed 2.6%, their strongest monthly rise since November 2022, supported by higher prices for soybeans, corn, and wheat. On a year-over-year basis, overall US export prices increased 11.6%, the fastest annual pace since July 2022.