Import Prices Rise for Third Month

The price of goods imported to the United States rose in October for the third consecutive month, the Labor Department said Friday.

The 0.5% import-price increase followed a 1.1% increase in September and a 1.2% rise in August. Economists had forecast no change, Bloomberg reported.

The cost of imported petroleum rose 1.3%, while prices excluding petroleum increased 0.3%.

U.S. export prices were unchanged after increasing 0.8% in September, Labor said.

Prices for imported automobiles and parts climbed 0.3%.