WASHINGTON (Reuters) -U.S. import prices rebounded in July, boosted by higher costs for consumer goods, the latest indication that inflation was poised to pick up because of tariffs.<\/p>\n
Import prices increased 0.4% last month after a downwardly revised 0.1% dip in June, the Labor Department’s Bureau of Labor Statistics said on Friday. Economists polled by Reuters had forecast import prices, which exclude tariffs, unchanged after a previously reported 0.1% gain in June.<\/p>\n
Though import prices do not include tariffs, the elevated readings suggested exporting nations are not cutting prices to offset the impact of higher costs from duties on consumers.<\/p>\n
In the 12 months through July, import prices slipped 0.2% after falling 0.5% in June.<\/p>\n
Producer price data on Thursday showed a surge in goods prices excluding the volatile food and energy components, bolstering economists expectations that consumer inflation would accelerate in the months ahead, despite what has so far been a moderate tariff pass-through.<\/p>\n
Imported fuel prices increased 2.7% in July after rising 0.8% in June. Food prices decreased 0.1% after dropping 1.3% in the prior month. Excluding fuels and food, import prices advanced 0.3%. Core import prices eased 0.1% in June. In the 12 months through July, they increased 0.8%.<\/p>\n
That partly reflects dollar weakness against the currencies of the United States’ main trade partners. The trade-weighted dollar is down about 6.7% this year.<\/p>\n
Prices for imported consumer goods excluding motor vehicles increased 0.4% last month after edging up 0.1% in June. Imported capital goods prices gained 0.1% while those for motor vehicles, parts and engines decreased 0.2%.<\/p>\n
(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)<\/p>\n","protected":false},"excerpt":{"rendered":"WASHINGTON (Reuters) -U.S. import prices rebounded in July, boosted by higher costs for consumer goods, the latest indication…\n","protected":false},"author":3,"featured_media":148027,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,39115,79,79959,87323,87324,87325,67,132,68],"class_list":{"0":"post-148026","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-consumer-goods","10":"tag-economy","11":"tag-food-prices","12":"tag-goods-prices","13":"tag-import-prices","14":"tag-labor-departments-bureau-of-labor-statistics","15":"tag-united-states","16":"tag-unitedstates","17":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115033284634149816","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/148026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=148026"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/148026\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/148027"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=148026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=148026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=148026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}