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Market Update: US Import Prices Rise Less than Forecast
The price index for US imports advanced 1.0 percent from a month earlier in June 2021, following an upwardly revised 1.4 percent increase in the previous month and compared with market expectations of 1.2 percent. Cost for import fuel rose 4.7 percent (vs 5.5 percent in May), boosted by higher prices for petroleum and natural gas. Meanwhile, nonfuel import prices were up 0.7 percent (vs 0.9 percent in May) on the back of higher prices for nonfuel industrial supplies and materials; foods, feeds, and beverages; consumer goods; and capital goods. Year-on-year, import prices rose 11.2 percent in June, following an 11.6 percent increase in May, which was the largest annual advance in prices since September 2011. source: U.S. Bureau of Labor Statistics [/s2If]
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