U.S. Import Prices Rise 0.3% as Traded-Goods Inflation Reaccelerates

The Bureau of Labor Statistics reported that U.S. import prices increased 0.3% in June while export prices fell 0.6%. Import prices were 7.1% higher than a year earlier, the strongest annual increase in nearly four years, while export prices were up 10.2% annually. The monthly import increase came despite lower food and energy prices, indicating pressure from capital and consumer goods; prices of imports from China recorded their largest monthly increase in more than 18 years.