Import prices gain 0.6% in Aug., export prices up 0.6%

WASHINGTON — U.S. import prices rose 0.6% in August, ahead of the 0.4% gain expected, and were up 0.3% excluding fuel prices and also up 0.3% excluding just petroleum prices.

Overall import prices rose 2.1% from a year ago, while prices excluding fuels were up 1.0% year/year and up 1.0% year/year excluding only petroleum, suggesting only modest underlying inflation.

When food and fuels were both removed, import prices were up 0.2% from July and up 0.8% from a year earlier. Fuel prices jumped 4.2% in the month, as petroleum prices rose 4.8%, offsetting a 5.7% decline in the relatively small natural gas category.

Import prices were up for the remaining components.

Export price posted a 0.6% increase overall and were up 0.7% excluding a 0.1% rise in agricultural commodities prices.

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Market News International is a real-time global news service for fixed-income and foreign exchange market professionals. See www.marketnews.com.
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