Investing.com - U.S. import prices rose for the first time in five months in August, as fuel prices rose, official data showed on Wednesday.
In a report, the U.S. Bureau of Labor Statistics said U.S. import prices rose by a seasonally adjusted 0.7% in August, compared to expectations for a 1.4% increase.
Import prices for July were revised to a 0.7% drop from a previously reported decline of 0.6%.
Year-over-year, U.S. import prices fell at an annualized rate of 2.2% in August, after dropping at rate of 3.2% in July.
The August increase was the first advance in overall import prices since a 1.4% rise in March. Export prices also increased in August, rising 0.9% following a 0.4% advance in July.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.35% to trade at 1.2900.
Meanwhile, U.S. stock index futures held on to gains. The Dow Jones Industrial Average futures pointed to a rise of 0.3% at the open, S&P 500 futures indicated a gain of 0.4%, while the Nasdaq 100 futures signaled an increase of 0.5%.
In a report, the U.S. Bureau of Labor Statistics said U.S. import prices rose by a seasonally adjusted 0.7% in August, compared to expectations for a 1.4% increase.
Import prices for July were revised to a 0.7% drop from a previously reported decline of 0.6%.
Year-over-year, U.S. import prices fell at an annualized rate of 2.2% in August, after dropping at rate of 3.2% in July.
The August increase was the first advance in overall import prices since a 1.4% rise in March. Export prices also increased in August, rising 0.9% following a 0.4% advance in July.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.35% to trade at 1.2900.
Meanwhile, U.S. stock index futures held on to gains. The Dow Jones Industrial Average futures pointed to a rise of 0.3% at the open, S&P 500 futures indicated a gain of 0.4%, while the Nasdaq 100 futures signaled an increase of 0.5%.