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- Neil Dutta, an economist at Bank of America Corp.
U.S. month on month import prices rose at a moderate pace in November for the first time in four months, indicating inflation will remain contained. Prices of imported goods rose 0.7 percent after falling 0.5 percent in October, said the Bureau of Labor Statistics on Wednesday.
"Import prices are going to be softening," said Neil Dutta, an economist at Bank of America Corp. in New York. "Even though commodity prices may have gone up, importers are reluctant to pass those increases on to consumers."
"Inflation has moderated since earlier in the year, and longer-term inflation expectations have remained stable" Federal Reserve policy makers said in a statement on December 13.
The Department of Labor is to announce data on unemployment claims later today. Economists expect the reading to advance to 389 thousand from 381 thousand.