The price of goods imported to the United States rose in August for the first time in five months, while export prices saw their biggest gain in more than a year, the Labor Department said Wednesday.
The 0.7% import-price increase followed a revised 0.7% decline in July. Economists had forecast a 1.5% rise, Bloomberg reported.
The cost of imported fuel rose 4.1%, while prices excluding petroleum dipped 0.5%.Ìý
U.S. export prices rose 0.9% in August, the biggest increase since March 2011, Labor said.
Imported food costs declined 0.9%, while prices for imported automobiles and parts were unchanged following a 0.3% increase in the previous month.
Transport Topics