US import and export prices rose in June, higher than expectations, according to data released Tuesday by the Labor Department’s Bureau of Labor Statistics.
Prices for US imports increased 0.4% last month, after declining 0.1% in June. The figure was higher than estimates of a 0.2% gain.
“Import fuel prices advanced 3.6 percent in July, after increasing 1.9 percent in June,” the agency said in a statement. “Higher prices for petroleum and natural gas in July contributed to the rise.”
Export prices rose 0.7% in July, following a decline of 0.7% in June. The figure also came in higher than expectations of a 0.2% increase.—AA
