Mumbai, Aug. 18 -- The Labor Department released a report on Friday showing import prices in the U.S. increased by more than expected in the month of July.
The report said import prices climbed by 0.4 percent in July after a downwardly revised 0.1 percent dip in June.
Compared to the same month a year ago, import prices were down by 0.2 percent in July, unchanged from June.
The stronger than expected monthly import price growth partly reflected a sharp increase in prices for fuel imports, which surged by 2.7 percent in July after climbing by 0.8 percent in June.
Prices for non-fuel imports rose by 0.3 percent in July after falling by 0.3 percent in June, as higher prices for non-fuel industrial supplies and materials consumer goods, and...