WASHINGTON — Import prices rose 0.6% in August, the second straight monthly increase and the largest in four months, the Labor Department reported Wednesday.
Export prices increased 0.8% in August as agricultural goods prices jumped 4.2%, the largest in 13 months. In July export prices dipped 0.2%
Import prices excluding fuel increased 0.3% on higher food and beverage prices, following back-to-back monthly decreases in June and July. Imports excluding petroleum increased 0.2% in August.
Fuel import prices increased 1.7% in August as petroleum prices rose 2.1%, the largest increase since April.
Economists polled by Thomson Reuters expected import prices would rise 0.3%, according to the median estimate.
Import prices for July were revised lower to a 0.1% increase from 0.2% gain reported last month. Imports excluding fuel fell 0.2% in July, revised from a 0.3% decrease.
Capital goods prices increased 0.2%, matching the largest increase in two years. Auto import prices increased 0.3% for the second straight month.
For the year ending in August, import prices rose 4.1%, the smallest 12-month increase since November 2009. Nonfuel prices increased 2.9% over the past year, led higher by industrial supplies and materials prices.
