US: Import prices increased 0.6 percent in August

Eren Sengezer FXStreet

"U.S. import prices increased 0.6 percent in August following declines in the previous 3 months," the U.S. Bureau of Labor Statistics reported on Tuesday.

Key highlights:

The price index for U.S. exports also advanced 0.6 percent in August, after increasing 0.5 percent in July.
Import prices rose 0.6 percent in August, the first monthly rise since a 0.2-percent increase in April and the largest advance since the index rose 0.6 percent in January.
The last time import prices recorded a larger increase was a 0.7-percent advance in June 2016.
Fuel prices increased 4.2 percent in August, the first monthly advance since the index rose 0.3 percent in February and the largest advance since the index increased 6.1 percent in January.
The price index for nonfuel imports advanced 0.3 percent in August, after edging down 0.1 percent in July.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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