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[johngeorge]

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.