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U.S. Import Prices Rise, Jobless Claims Drop
Published in Saudi Press Agency on 14 - 12 - 2006

U.S. import prices posted a surprising 0.2 percent rise in November despite a decline in oil prices, and the number of U.S. workers seeking first-time jobless benefits fell by an unexpected 20,000 last week, the Labor Department said in two reports Thursday.
Pushing import prices higher was a 0.7 percent rise in non-petroleum prices, the biggest gain in that category since May.
Natural-gas import prices were up 30.3 percent as weather became colder, the steepest climb since a 39.5 percent rise in November 2004. Non-petroleum industrial supplies and materials prices rose by 2.9 percent, the biggest amount since October 2005.
Petroleum import prices fell 1.6 percent, the third consecutive monthly decline. However, petroleum prices were up 1.5 percent over the 12 months ending in November.
Meanwhile, export prices rose a more-than-expected 0.4 percent.
In a separate report, the department said jobless claims fell to 304,000 last week, down from 324,000 the previous week and consistent with levels that suggest strength in labor markets.
The four-week moving average of jobless claims, considered a better gauge of labor trends because it smoothes out weekly fluctuations, fell by 1,500 to 327,250 from 328,750 the previous week.
The number of Americans continuing to receive jobless benefits fell by 33,000 to 2.48 million last week.


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