India, Aug. 15 -- 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.
Economists had expected import prices to inch up by 0.1 percent, matching the 0.1 percent uptick originally reported for the previous month.
"Along with this week's producer price report, the import price data support our expectations for pressure on consumer prices to accelerate in the months ahead," said Matthew Martin, Senior U.S. Economist at Oxford Economics.
Compared to the same month a year ago, import prices were down by 0.2 percent in July, unchanged from June and ...