US import and export prices both rise 0.3pc in August

(Sharecast News) - US import prices rose 0.3% month-on-month in August, according to the Bureau of Labor Statistics, defying expectations for a 0.2% decline. The July figure was revised down to a 0.2% gain from the initially reported 0.4%. The increase was led by higher prices for nonfuel imports, which offset a decline in fuel-related costs.

On an annualised basis, import prices were flat, compared with a 0.2% year-on-year decline in July.

Export prices also rose 0.3% in August, beating consensus forecasts for a 0.1% decline and matching the revised July figure, which was previously reported at 0.1%. The BLS said the monthly gain was driven by stronger pricing for non-agricultural exports.

Year-on-year, export prices advanced 3.4%, accelerating from a revised 2.4% increase in July.







Reporting by Iain Gilbert at Sharecast.com