The rise was led by a 7.3% rise in fuel prices and follows an 0.8% advance in October.

US export prices rose 0.8 percent in November after a 0.2 percent increase the previous month.

The 1.7% increase in US imports in November continued the upward trend for the index.

Import prices have risen in eight of the past nine months, increasing 10.1%over that period.

The November advance for overall import prices was driven by higher fuel prices, which accounted for approximately 80% of the increase.

The price index for US imports advanced 3.7% for the year ended in November, the first time the index increased over a 12-month period since a 4.9% advance for the October 2007-2008 period.

Story provided by Business Financial Newswire