U.S. Import Prices Unexpectedly Rise 0.3% In August
(RTTNews) - A report released by the Labor Department on Tuesday showed import prices in the U.S. unexpectedly increased in the month of August.
The Labor Department said import prices rose by 0.3 percent in August after inching up by a downwardly revised 0.2 percent in July.
Economists had expected import prices to edge down by 0.1 percent compared to the 0.4 percent increase originally reported for the previous month.
Meanwhile, the report said export prices climbed by 0.3 percent in August, matching an upwardly revised increase in July.
Economists had expected export prices to come in unchanged compared to the 0.1 percent uptick 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.