US import prices were little changed in June
By Alexander Bueso
Date: Friday 14 Jul 2023
(Sharecast News) - The cost of imported goods was little changed in June.
According to the U.S. Department of Labor, in seasonally adjusted term, the country's import price index declined at a month-on-month pace of 0.2%.
That was better than the 0.1% dip forecast by economists.
Yet it was more than offset by a two-tenths of a percentage point upwards revision to May's rate of change to -0.4%.
Fuel import prices were the reason for the 'miss', rising by 0.8%, while non-fuel import prices dropped by 0.4%.
Export prices meanwhile slid by 0.9%, a drop that followed a 1.9% fall in the month before.
Prices for agricultural exports fell by 1.6% and those for non-agricultural ones by 0.9%.
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