U.S. import prices rose less than expected in June

According to the U.S. Bureau of Labor Statistics, the import price index rose 0.2% in June from the previous month, slowing from the 0.5% increase in May.

Analysts had previously forecast that the import price index would rise by 0.7% in June.

Year on year, the import price index rose by 10.7%, following an 11.6% increase in May.

The slowdown in the import price index was caused by the strong dollar and a decline in energy prices.

All imports excluding fuels fell 0.5%, following a 0.3% decline in May.

The export price index rose 0.7% month-on-month in June, following a 2.9% increase in May

On a year-on-year basis, the export price index rose 18.2%, following an 18.7% increase in May.

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