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Import Prices Higher, But Still Down for the Year

U.S. import prices rose 0.9 percent in August, the U.S. Bureau of Labor Statistics reports,…

  • September 23, 2020

U.S. import prices rose 0.9 percent in August, the U.S. Bureau of Labor Statistics reports, following advances of 1.2 percent in July and 1.4 percent in June.

Higher prices for both fuel and nonfuel imports contributed to the August increase.

Prices for U.S. exports also advanced in August, rising 0.5 percent, after increasing 0.9 percent the previous month.

Prices for U.S. imports advanced 0.9 percent in August, after rising 3.3 percent from April to July.

Prior to that, import prices decreased 5.6 percent from January to April.

Despite the recent increases, U.S. import prices declined 1.4 percent for the year ended in August.