U.S. import and export prices climbed by more than 1% in October, according to the Bureau of Labor Statistics, the largest increases since May. The numbers indicate more inflation woes for consumers and manufactures.

The index showed a 1.2% increase in U.S. import prices in October after 0.4% growth was reported in September.

As for U.S. exports, prices saw a growth of 1.5% in October following a 0.4% rise the previous month and a 0.3% rise in August. 

The price index increase for U.S. imports in October is the most substantial monthly increase since a 1.3% growth was reported in May. From June to September, import prices saw an increase of 0.5%. Prices for U.S. imports saw a 10.7% increase from October 2020 to October 2021, the largest yearly increase since June 2021.

Import fuel saw an 8.6% increase in October following a 3.9% increase the month prior. Food and beverage prices increased 0.8% in October after a 1.4% increase was reported in September. The October rise was accompanied by a 5.6% increase in meat prices and a 1.1% increase in fish and shellfish prices.

The price index for U.S. exports in October is the biggest monthly growth since a 2.3% rise was reported in May.

The price index for U.S. exports increased 18% throughout the year, the biggest yearly growth since the figure debuted in September 1983. Agricultural export prices rose 1% in October after a 1.5% decrease was reported in September, and increased 24.5% from October 2020 to October 2021.