U.S. import prices unexpectedly rose in July, but the underlying trend continued...
WASHINGTON - U.S. import prices unexpectedly rose in July, but the underlying trend continued to be weak, pointing to subdued imported inflation pressures.
The Trump administration on Tuesday delayed imposing a 10% import tariff on laptops, cell phones, video game consoles and a wide range of other products made in China until mid-December, saying the move was to avoid hurting American shoppers heading into the Christmas holiday. Economists polled by Reuters had forecast import prices would be unchanged in July. In the 12 months through July, import prices dropped 1.8% after decreasing 2.0% in June. Import prices exclude tariffs.
Excluding fuels and food, import prices were unchanged last month after dropping 0.2% in June. The core import prices fell 1.5% in the 12 months through July.
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