July’s rise in U.S. import prices is largest since May 2022


The numbers: The U.S. import price index rose 0.4% in July, the Labor Department said Tuesday. This is the biggest gain since May 2022.

Economists surveyed by the Wall Street were expecting a 0.2% gain.

Fuel import costs rose 3.6% in July. Higher prices for petroleum and natural gas contributed to the gain.


This article was originally published by Marketwatch.com. Read the original article here.

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