Prices of US imports fell by 0.3% monthly in August, the largest decline in the year, according to the US Bureau of Labor Statistics.
The monthly fall in prices surpassed analysts’ estimates who had expected a reduction of 0.3%, according to the portal investing.com.
Year-over-year import prices rose 0.8% in August compared to the same span in 2023.
Export prices declined by 0.8% in August on a monthly basis, the third decline in four months, while analysts had expected a 0.1% decline.
Year-over-year export prices declined 0.7% compared to August 2023.
By Staff
