US import prices – July 2019: Import and export prices unexpectedly rise, but trend is weak


U.S. import prices unexpectedly rose in July, but the underlying trend remained weak, pointing to subdued imported inflation.

The Labor Department said on Wednesday import prices increased 0.2% last month as a rebound in the cost of petroleum products offset declines in prices for capital goods and motor vehicles. Data for June was revised down to show import prices dropping 1.1% instead of falling 0.9% as previously reported.

Economists polled by Reuters had forecast import prices would be unchanged in July. In the 12 months through July, import prices dropped 1.8% after decreasing 2.0% in June.

That suggests inflation will likely remain moderate despite a broad increase in consumer prices…


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