The price we pay for having a massive trade imbalance with the outside world got…
The price we pay for having a massive trade imbalance with the outside world got a bit worse late last year, according to the U.S. Bureau of Labor Statistics.
BLS reports that U.S. import prices rose 0.7 percent in November, the U.S. Bureau of Labor Statistics reported today, after ticking up 0.1 percent in October.
Higher prices for fuel drove the increase in November and nonfuel prices recorded no change.
U.S. export prices increased 0.5 percent in November following a 0.1-percent advance the previous month.
Think of all that imported “stuff” crossing the vast oceans to reach us, and you can appreciate why fuel prices have a huge impact on import prices.