Labor Department said on Wednesday import prices increased 0.2
percent last month after an unrevised 1.4 percent jump in May.
Economists polled by Reuters had forecast import prices rising
0.5 percent in June.
The modest increase likely reflects the lingering effects of the
dollar's surge between June 2014 and December 2015, which
continues to dampen imported inflation pressures and keep
overall inflation below the Federal Reserve's 2 percent target.
U.S. financial markets were little moved by the data.
In the 12 months through June, import prices fell4.8 percent,
the smallest drop since November 2014.
Last month, imported petroleum prices rose 6.4 percent after
soaring 16.3 percent in May. Import prices excluding petroleum
fell 0.3 percent as the cost of capital goods slipped 0.3
percent and consumer goods, excluding automobiles dropped 0.2
The cost of imported industrial supplies and materials excluding
fuels decreased 0.3 percent. Imported food prices tumbled 1.3
percent last month. The report also showed export prices
increased 0.8 percent in June, after rising 1.2 percent in May.
Export prices fell 3.5 percent from a year ago.
Prices for agricultural exports increased 2.4 percent, boosted
by higher soybean and corn prices. Prices for nonagricultural
exports rose 0.5 percent last month.
The increase was led by gains in prices for industrial supplies
and material, as well as capital goods. But prices for consumer
goods exports fell.
(Reporting by Lucia Mutikani; Editing by Andrea Ricci)
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