July 15, 2020 / 12:35 PM / 21 days ago

US import prices beat expectations in June

WASHINGTON, July 15 (Reuters) - U.S. import prices increased more than expected in June amid a surge in the cost of fuel, but the overall trend remained weak, suggesting inflation could stay tame despite a jump in consumer prices last month.

The Labor Department said on Wednesday import prices accelerated 1.4% last month after rising 0.8% in May. Economists polled by Reuters had forecast import prices, which exclude tariffs, gaining 1.0% in June. In the 12 months through June, import prices fell 3.8% after dropping 6.2% in May. (Reporting by Lucia Mutikani; Editing by Andrew Heavens)

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