US import prices increased 0.4% MoM, and export prices increased 0.5% MoM from September to November.

• The annual change in import prices remained low at 0.1% YoY, and in export prices, fell from 3.9% YoY in Sep to 3.3% YoY in Nov.
• Fuel import prices were down -8.7% YoY in November, highly deflationary but up from -17.9% YoY in September. Nonfuel import prices increased 2.4% YoY in November, up from 2.0% YoY in September.
• Agricultural exports increased 0.9% MoM and were only down -1.7% YoY in November, up from -4.9% YoY in September. Non-agricultural export price growth flipped from -1.5% YoY in September to 1.2% YoY in November.
• Nonfuel industrial supplies & materials import prices were up 4.6% YoY, including the durables subsegment up 6.9% YoY.