US import prices unexpectedly rise in June
FILE PHOTO: Shipping containers sit on a Maersk vessel docked at the port of Los Angeles in Long Beach, California, U.S., March 10, 2026. REUTERS/Caroline Brehman/File Photo
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WASHINGTON, July 17 : U.S. import prices unexpectedly rose in June as declines in the costs of food and energy products were more than offset by higher prices for capital and consumer goods, leading to the largest annual increase in imported inflation in nearly four years.
Import prices increased 0.3 per cent last month after a downwardly revised 1.7 per cent advance in May, the Labor Department’s Bureau of Labor Statistics said on Friday. Economists polled by Reuters had forecast import prices, which exclude tariffs, decreasing 0.7 per cent after a previously reported 1.9 per cent rise in May.
In the 12 months through June, import prices surged 7.1 per cent. That was the biggest advance since August 2022 and followed a 6.6 per cent increase in May. The monthly increase in import prices bucked declines in producer and consumer prices in June, which were attributed to the retreat in oil prices as a fragile ceasefire between the United States and Iran took hold. That truce collapsed last week, pushing oil prices to a one-month high.
Prices of imported fuel fell 0.4 per cent last month after rising 12.6 per cent in May. They jumped 44.1 per cent year-on-year in June. Imported food prices eased 0.2 per cent. Excluding food and fuels, import prices increased 0.4 per cent after advancing 0.8 per cent. The so-called core imported inflation increased 4.6 per cent in the 12 months through June.
Core imported inflation was boosted by a 0.4 per cent increase in imported capital goods prices, reflecting strong demand for technology products as businesses ramp up investment in artificial intelligence. Prices for imported consumer goods, excluding automotives, rose 0.3 per cent. The cost of imported automotive vehicles, parts and engines eased 0.1 per cent.
(Reporting By Lucia Mutikani; Editing by Chizu Nomiyama)
Source: Reuters
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