U.S. Import Prices Inch Up Much Less Than Expected In June
(RTTNews) - With a continued surge in prices for fuel imports partly offset by a decrease in prices for non-fuel imports, the Labor Department released a report on Friday showing U.S. import prices crept up by much less than expected in the month of June.
The Labor Department said import prices inched up by 0.2 percent in June after climbing by a downwardly revised 0.5 percent in May.
Economists had expected import prices to advance by 0.7 percent compared to the 0.6 percent increase originally reported for the previous month.
Meanwhile, the report showed export prices rose by 0.7 percent in June after surging by an upwardly revised 2.9 percent in May.
Export prices were expected to jump by 2.0 percent compared to the 2.8 percent spike originally reported for the previous month.
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