U.S. Import Prices Unexpectedly Increase In October

(RTTNews) - The Labor Department released a report on Friday showing an unexpected increase by import prices in the U.S. in the month of October.

The report said import prices rose by 0.3 percent in October after falling by 0.4 percent in September. Economists had expected import prices to edge down by 0.1 percent.

Meanwhile, the Labor Department said export prices climbed by 0.8 percent in October following a revised 0.6 percent decrease in September.

Export prices were expected to slip to 0.1 percent compared to the 0.7 percent decline originally reported for the previous month.