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Higher Fuel Prices Help Push Import Prices up 0.1%

Import prices were up and export prices were down for June, according to a Labor Department report (link opens as PDF) released today.

Import prices increased 0.1% for June after growing 0.3% in May. While rising import prices can be a drain on an economy, June's slight increase isn't alarming and fell well short of analysts' 0.4% expectations. According to the report, higher fuel prices were to blame for both May and June's increase . Import fuel prices grew 1.2%, while non-fuel import prices actually fell 0.1%.

Source: Labor Department 

After increasing 0.1% in May, export prices fell 0.4% in June, clocking in well below analysts' expectations of a 0.2% bump. Agricultural prices fell 1.8% for the largest drop since August 2013, while prices for nonagricultural exports declined 0.3%. 

Source: Labor Department 

On a regional basis, import prices from Japan and China remained steady, while more expensive fuel helped push Canada import prices up 0.6%.

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Energy and Macroeconomic Specialist keeping investors up to date with macro news, utilities, and good companies doing good things.

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