WASHINGTON (Reuters) – U.S. import costs barely rose in July, extending the circulate of tame inflation readings which have bolstered monetary market expectations for an rate of interest lower subsequent month.
Import costs edged up 0.1% final month amid a modest rebound in the price of power merchandise after being unchanged in June, the Labor Division’s Bureau of Labor Statistics mentioned on Thursday. Economists polled by Reuters had anticipated import costs, which exclude tariffs, to slide 0.1%.
Within the 12 months by way of July, import costs elevated 1.6% after rising 1.5% in June. The report adopted information this week of gentle will increase in shopper and producer costs in July, which strengthened expectations for a September 25 foundation level rate of interest lower from the Federal Reserve.
