The U.S. Labor Department released data on Friday indicating a surprising increase in import prices for October. According to the report, import prices went up by 0.3% in October, reversing a 0.4% decline seen in September. Analysts had anticipated a slight decrease of 0.1% in import prices.
In a related trend, export prices also experienced a rise, increasing by 0.8% in October, subsequent to a downwardly revised 0.6% decrease in September. Initially, economists had projected export prices to drop by 0.1%, compared to the earlier reported 0.7% decline for September.
