WASHINGTON (dpa-AFX) - The Labor Department released a report on Friday showing import prices in the U.S. increased by more than expected in the month of July.
The report said import prices climbed by 0.4 percent in July after a downwardly revised 0.1 percent dip in June.
Economists had expected import prices to inch up by 0.1 percent, matching the 0.1 percent uptick originally reported for the previous month.
Meanwhile, the Labor Department said export prices crept up by 0.1 percent in July after rising by 0.5 percent in June. The modest increase matched economist estimates.
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