India, Sept. 16 -- A report released by the Labor Department on Wednesday showed import prices in the U.S. increased by much more than expected in the month of August.

The Labor Department said import prices climbed by 0.7 percent in August after falling by a revised 0.3 percent in July.

Economists had expected import prices to rise by 0.3 percent compared to the 0.4 percent decrease originally reported for the previous month.

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