U.S. import prices beat expectations in June
U.S. import prices increased more than expected in June amid a surge in the cost of fuel, but the overall trend remained weak, suggesting inflation could stay tame despite a jump in consumer prices last month, Trend reports with reference to Reuters.
The Labor Department said on Wednesday import prices accelerated 1.4% last month after rising 0.8% in May. Economists polled by Reuters had forecast import prices, which exclude tariffs, gaining 1.0% in June. In the 12 months through June, import prices fell 3.8% after dropping 6.2% in May.