Import prices rise

Thursday, Dec. 9, 2004 | 10:37 a.m.

The cost of goods imported into the United States unexpectedly rose 0.2 percent in November, reflecting higher prices for power equipment, machinery and industrial supplies.

The rise in the import price index followed a revised 1.6 percent jump in October that was more than first estimated, the Labor Department said today in Washington. Excluding petroleum, prices rose 0.7 percent last month after falling 0.1 percent.

The dollar's decline this year against other currencies makes imported goods more expensive. Federal Reserve policy makers, meeting next week, are forecast to maintain their "measured" pace of interest-rate increases to keep inflation in check.

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