U.S. Import Prices Climb Much More Than Expected In August
(RTTNews) - 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.
The report also said export prices rose by 0.6 percent in August after tumbling by a revised 1.4 percent in July.
Export prices were expected to increase by 0.5 percent compared to the 1.3 percent slump originally reported for the previous month.
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.