Fuel import prices fell for the first time in five months, slumping 6.3%, reversing the increase in September of 6.3%. Lower prices in October for both petroleum and natural gas contributed to the decrease in fuel prices, the Labor Department said. Excluding fuel, import prices ticked down 0.2% for the third consecutive month, as lower prices for nonfuel industrial supplies, capital goods, food and beverages and consumer goods more than offset higher prices for automotive vehicles, it added. Data published Wednesday said U.S. producer prices fell 0.5% in October, further evidence of easing inflationary pressures. Write to Ed Frankl at edward.frankl@wsj.com(END) Dow Jones NewswiresNovember 16, 2023 09:08 ET (14:08 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal November 17, 2023 02:12 UTC