ABJ - December 15 - Following declines in each of the previous three months, U.S. import prices rose 0.7 per cent in November, reported the U.S. Bureau of Labor Statistics.

An upturn in fuel prices more than offset decreasing prices for nonfuel imports. Export prices ticked up 0.1 per cent in November, after a 2.1 per cent drop in October.

Import prices rose 0.7 per cent in November following declines of 0.5 per cent, 0.1 per cent, and 0.4 per cent in the three previous months. The November advance is the largest monthly increase since a 2.6 per cent rise in April. Overall import prices increased 9.9 per cent for the year ended in November, due primarily to higher prices for the first half of the period.

A 3.6 per cent rise in import fuel prices drove the November increase in overall import prices. The November increase followed declines in five of the six previous months. Fuel prices rose 31.6 per cent over the past 12 months despite declining 7.2 per cent between April and October. Both petroleum and natural gas prices, up 3.6 per cent and 5.3 per cent, respectively, contributed to the increase in overall fuel prices.