U.S. Import Prices Unexpectedly Rise 0.3% In June

(RTTNews) - Import prices in the U.S. unexpectedly saw further upside in the month of June, according to a report released by the Labor Department on Friday.

The Labor Department said import prices rose by 0.3 percent in June after jumping by a downwardly revised 1.7 percent in May.

Economists had expected import prices to decrease by 0.3 percent compared to the 1.9 percent surge originally reported for the previous month.

Meanwhile, the report said export prices slid by 0.6 percent in June after growing by a downwardly revised 1.2 percent in May.

Economists had expected export prices to fall by 0.4 percent compared to the 1.3 percent jump originally reported for the previous month.