Following the release of more closely watched inflation data earlier this week, the Labor Department released a separate report on Friday showing U.S. import prices inched up by much less than expected in the month of September.
The Labor Department said import prices crept up by 0.1 percent in September after climbing by an upwardly revised 0.6 percent in August.
Economists had expected the pace of import price growth to match the 0.5 percent increase originally reported for the previous month.
Meanwhile, the report said export prices advanced by 0.7 percent in September after jumping by a downwardly revised 1.1 percent in August.
Export prices were expected to climb by 0.6 percent compared to the 1.3 percent surge originally reported for the previous month.