US import and export prices rose in June, more than market forecasts, according to data released Friday by the Labor Department’s Bureau of Labor Statistics.
Prices for US imports climbed 0.5% last month, after ticking up 0.1% in July. The figure rose faster than expectations of a 0.3% gain.
“The August advance was led by higher fuel prices,” the bureau said in a statement.
Export prices jumped 1.3% in August, following a 0.5% rise in the prior month. The figure also came in higher than expectations of a 0.4% increase.
“The August rise was the largest 1-month advance since the index increased 2.7 percent in May 2022,” read the statement.—AA
