US import prices edge slightly higher in July
Import prices in the US edged slightly higher in July as energy costs bounced back.
According to the Bureau of Labor Statistics, the US import price index rose at a month-on-month pace of 0.2%, pushing the year-on-year rate of increase higher to -1.8%.
Economists had forecast no change in prices in comparison to June and a 2.2% fall versus a year ago.
In comparison to June, fuel import prices increased by 1.8% following a drop of 7.3% in the month before.
Non-fuel import prices meanwhile drifted down by 0.1%.
On the export side of the equation, prices were also 0.2% higher on the month, but 0.9% lower year-on-year.
Agricultural export prices increased at a month-on-month clip of 0.4% and those of non-agricultural exports by 0.2%.