Economy USA

US: Unexpected rise in import prices in July

WASHINGTON (Reuters) – The import prices were up against all odds in July in the U.S., while export prices fell, too unexpectedly, said the Labor Department on Tuesday.

The import prices rose 0.3% against a 0.1% decline expected, after a decline of 0.6% (0.5% in the first estimate) in June.

The export prices fell by 0.4%, while the consensus gave 0.1%, after rising 0.1% in confirmed in June. This is their first decline in a year.

The import prices of petroleum products rose by 0.6% in July after falling 2.2% in June Excluding petroleum, import prices rose 0.2% after falling 0.1% in June

Year on year, rising import prices is 14.0% in July, the highest since the 18.1% in August 2008. The annual increase in export prices it is 9.8%.

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