U.S. import price growth slowed in November from the prior month amid a moderation in petroleum product costs, but underlying imported inflation pressures remained strong.
Import prices increased 0.7% last month after accelerating 1.5% in October, the Labor Department said Wednesday.
In the 12 months through November, however, import prices rose 11.7%, the biggest rise since September 2011.
The report showed export prices rose 1.0% in November and 18.2% year-over-year. The year-over-year jump was the largest gain since the series was first published in September 1984. For the full Reuters story, click here.
