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U.S. import prices unexpectedly fall in August

Kitco News

WASHINGTON, Sept 15 (Reuters) - U.S. import prices fell for the first time in 10 months in August, further evidence that inflation had probably peaked.

Import prices dropped 0.3% last month after increasing 0.4% in July, the Labor Department said on Wednesday. The first decrease since October 2020 lowered the year-on-year increase to 9.0% from 10.3% in July. Economists polled by Reuters had forecast import prices, which exclude tariffs, climbing 0.3%. (Reporting By Lucia Mutikani)

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