A report released by the Labor Department on Thursday showed U.S. import and export prices both rose by more than expected in the month of October.
The Labor Department said import prices climbed by 0.5 percent in October after rising by a downwardly revised 0.2 in September.
Economists had expected import prices to inch up by 0.1 percent compared to the 0.5 percent increase originally reported for the previous month.
Meanwhile, the report said export prices rose by 0.4 percent in October after coming in unchanged in September. Export prices had also been expected to tick up by 0.1 percent.
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