US import prices unexpectedly rise in June

WASHINGTON, July 17 : U.S. import prices unexpectedly rose in June as declines in the costs of food and energy products were more than offset by higher prices for capital and consumer goods, leading to the largest annual increase in imported inflation in nearly four years.Import prices increased 0.3 per cent last month after a downwardly revised 1.7 per cent advance in May, the Labor Department's Bureau of Labor Statistics said on Friday. Economists polled by Reuters had forecast import prices, which exclude tariffs, decreasing 0.7 per cent after a previously reported 1.9 per cent rise in May.In the 12 months through June, import prices surged 7.1 per cent. That was the biggest advance since August 2022 and followed a 6.6 per cent increase in May. The monthly increase in import prices buck