WASHINGTON (dpa-AFX) - A report released by the Labor Department on Friday showed an unexpected decrease in U.S. import prices in the month of June, although the report also showed a slightly bigger than expected increase in export prices during the month.
The Labor Department said import prices fell by 0.4 percent in June after climbing by an upwardly revised 0.9 percent in May.
The pullback surprised economists, who had expected import prices to inch up by 0.1 percent compared to the 0.6 percent increase originally reported for the previous month.
Meanwhile, the report also said export prices rose by 0.3 percent in June following a 0.6 percent increase in May. Economists had expected export prices to edge up by 0.2 percent.
Copyright RTT News/dpa-AFX