WASHINGTON — Import prices rose 2.0% in August, increasing for the fifth time in six months, led primarily by an increase in fuel prices, the Labor Department reported today.
Prices excluding fuel rose 0.4% for the month, the largest monthly increase since July 2008. Prices for imports excluding fuel remain down 5.1% over the past 12 months. The 5.3% decrease recorded for the year ending in July was a record decline, the series started in December 2001.
Fuel import prices rose 9.8% in August as petroleum products rose 10.5%. Fuel import prices have fallen 40% from a year ago.
The import price index is the first of three monthly inflation gauges released by the Labor Department. Producer and consumer price indexes will be released next week.
Prices for all imports fell 15% from a year ago, but prices have risen 7.6% year to date.
The price of imports from China rose 0.2%, those from Japan inched up 0.1%, those from European Union countries grew 0.2% and from Latin American countries import prices surged 3.4%.
Export prices rose 0.7%, the largest increase since January, as nonagricultural exports rose 0.8%.
