8:43a ET July 13, 2007 (MarketWatch)
WASHINGTON (MarketWatch) -- Prices of goods imported into the U.S. rose by 1.0% in June on another gain in the price of imported petroleum, the Labor Department said Friday.
Imported petroleum prices rose by 4.7%, marking the fifth straight monthly increase, the government's data showed. All told, imported petroleum prices are up 28.1% in the past five months.
The import price index for last month was a bit higher than forecast. On average, economists surveyed by MarketWatch had been expecting import prices to rise by 0.7%. See Economic Calendar.
Import prices have increased by 2.3% in the past 12 months. May's prices were revised to growth of 1.1% from a previously estimated 0.9%.
Excluding petroleum, June's gain in import prices was 0.2%, the fourth consecutive increase.
Excluding all fuels, the rise in import prices was 0.2%.
Prices of imported natural gas moderated in June, rising by 0.5%. In May, imported natural gas prices increased 2.2%.
Meanwhile, last month's prices of U.S. exports rose 0.3%. Prices of exported agricultural commodities rose by 2.9%, while prices of exported agricultural industrial supplies and materials rose by 3.7%.
Excluding agricultural goods, export prices rose 0.1%.
Export prices have risen 4.1% in the last year.
Prices of goods imported from the Middle East rose 3.6%, following on 3.5% growth in May.
Prices of goods imported from China rose 0.3% in June, matching the increase in May.
Prices of goods imported from Japan grew by 0.1% in June, after two straight months of being flat.
In another government report Friday, U.S. retailers' sales for June fell 0.9%, marking the biggest drop in 10 months.
Oil again boosts import prices
Started by
johngeorge
, Jul 13 2007 08:18 AM
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