By Joshua KirbyPrices of goods imported to the U.S. rose a little more than expected in August, driven by higher petroleum prices. The price index for U.S. imports rose 0.5% in August, data from the Labor Department showed Friday. The increase builds on a rise the previous month, following a period of declining prices previously. Fuel imports boosted the overall reading, with petroleum import prices rising 6.5%. Prices for nonfuel imports meanwhile edged down 0.1%, continuing a period of no increases in prices for nonfuel imports, the Labor Department said.

Source: Wall Street Journal September 16, 2023 01:00 UTC