US: Prices for US imports edged up 0.1% in July

Eren Sengezer FXStreet

"Prices for U.S. imports edged up 0.1 percent in July, led by higher fuel prices which more than offset lower prices for nonfuel imports," the U.S. Bureau of Labor Statistics said on Tuesday.

Key quotes:

The July increase in import prices followed declines in each of the 2 previous months
U.S. export prices advanced 0.4 percent in July, after decreasing 0.2 percent in June
Prices for U.S. exports rose 0.8 percent over the past year, continuing an upward trend
Fuel prices rose 0.5 percent in July following declines of 2.6 percent in June, 0.9 percent in May, and 0.4 percent in April
In contrast, nonfuel import prices edged down 0.1 percent in July, the first monthly decrease since a 0.1-percent drop in January

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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