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November 13, 2009

Import Prices Advance In October

The U.S. Import Price Index rose 0.7 percent in October, according to the U.S. Bureau of Labor Statistics.

The increase was lead by a 1.8 percent increase in fuel prices, and followed a 0.2 percent increase in September.

Export prices advanced 0.3 percent during the month after decreasing 0.2 percent the previous month.

Import prices have risen in seven of the past eight months and were up 8.1 percent during that time.

October's import prices were down 5.7 percent year-to-date, driven by a 12.8 percent drop in prices between October 2008 and last January.

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