U.S. import prices rise on petroleum |
Reuters - Jun 12, 2009 |
U.S. import prices rose 1.3 percent in May, the Labor Department said on Friday, but the gain was powered by petroleum prices and underlying import price pressures were more muted.
Analysts had forecast import prices would rise 1.3 percent after a revised 1.1 percent rise in April, previously reported as a 1.6 percent increase. May's gain was the largest since a 1.4 percent advance in July 2008.
Recent declines in the dollar might press import prices higher and contribute to inflation, but year-over-year, import prices declined by a record 17.6 percent, indicating little threat of this at the moment.
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- Posted: 2009-06-12 11:40:19
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