U.S. Import Prices Increase More Than Expected In August

  • U.S import prices increased more than expected in August and gains in the prior month were revised sharply higher, supporting views that inflation pressures were building up.
  • The Labour Department said on Tuesday import prices rose 0.9% last month. Data for July was revised higher to show import prices accelerating 1.2% instead of 0.7% as previously reported.
  • Economists polled by Reuters had forecast import prices, which exclude tariffs, increasing 0.5% in August. In the 12 months through August, import prices fell 1.4% after declining by 2.8% in July.

(Source: Reuters)