Oil Pushes Import Prices Higher in November

Washington, DC, Dec. 15, 2011 -- U.S. import prices recorded their largest increase in seven months in November, according to the Labor Department.

Overall import prices in the U.S. rebounded 0.7%. They had fallen 0.5% in October. Last month’s increase was the largest since April.

Economists had expected prices to rise 0.9% last month. Import prices were up 9.9% in the 12 months through November.

Excluding oil, import prices fell 0.2% after declining 0.3% in October.