U.S. Import Prices Unexpectedly Decrease In July As Fuel Prices Plummet

India, Aug. 18 -- The Labor Department released a report on Tuesday showing an unexpected decline in import prices in the U.S. in the month of July.

The report said import prices fell by 0.4 in July following a revised 0.3 percent decrease in June. Economists had expected import prices to inch up by 0.1 percent compared to the 0.3 percent increase originally reported for the previous month.

The Labor Department also said the annual rate of import price growth slowed to 5.9 percent in July from 7.1 percent in June.

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Published by HT Digital Content Services with permission from RTT News....