By Ed Frankl
Prices for U.S. imports were unchanged in June, as lower import fuel prices offset higher nonfuel prices, according to Bureau of Labor Statistics data published Tuesday.
The flat reading compares with a 0.2% fall in May, and a 0.2% decline economists had expected for June, according to a poll carried out by The Wall Street Journal.
Prices for fuel imports fell 1.0%, after a 0.4% increase in May, while prices for nonfuel imports ticked up 0.2%.
That import prices held steady will keep policymakers at the Federal Reserve on their toes as they consider when to ease monetary policy, in view of underlying strength in inflation. Import prices were 1.6% higher for the year ended in June, the largest 12-month increase since the 3.2% rise in December 2022, the Labor Department said.
Write to Ed Frankl at edward.frankl@wsj.com
(END) Dow Jones Newswires
07-16-24 0905ET
