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U.S. import prices increased less than expected in July, a sign that inflation pressures may have peaked as supply chain bottlenecks that have impacted the U.S. economy start to wane.<\/p>\n
<\/p>\n
Import prices rose 0.3% last month after jumping 1.1% in June, the Labor Department said on Friday. The ninth straight monthly gain left the year-on-year increase at 10.2% compared to 11.3% the prior month but it was the lowest monthly increase since November last year.<\/p>\n
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Economists polled by Reuters had forecast import prices, which exclude tariffs, increasing 0.6%.<\/p>\n
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The government reported earlier this week that consumer prices moderated in July even as they remained at a 13-year high on an annual basis, while producer prices posted their largest annual increase in more than a decade.<\/p>\n
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Rising COVID-19 vaccinations, low interest rates and nearly $6 trillion in government aid since the beginning of the pandemic are fueling demand at the same time as higher commodity costs, low inventories and a global shipping container crisis are straining the supply chain.<\/p>\n
<\/p>\n
Imported fuel prices advanced 2.9% last month after rising 5.5% in June. Petroleum prices gained 2.1%, while the cost of imported food increased 0.3%. Excluding fuel and food, import prices edged down 0.1%. These so-called core import prices rose 0.6% in June.<\/p>\n
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The report also showed export prices advancing 1.3% in July after increasing 1.2% in June. Prices for agricultural exports fell 1.7%. Nonagricultural export prices gained 1.6%.<\/p>\n
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Export prices increased 17.2% year-on-year in July after surging a 16.9% in June.<\/p>\n
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(Reporting by Lindsay Dunsmuir; Editing by Chizu Nomiyama)<\/em><\/p>\n maritime professional<\/p>\n","protected":false},"excerpt":{"rendered":" U.S. import prices increased less than expected in July, a sign that inflation pressures may have peaked as supply chain bottlenecks that have impacted the U.S. economy start to wane. Import prices rose 0.3% last month after jumping 1.1% in June, the Labor Department said on Friday. The ninth straight monthly gain left the year-on-year …<\/p>\n","protected":false},"author":1,"featured_media":27848,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[1339,4525,6573,2494,3549],"class_list":["post-27847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-import","tag-increases","tag-july","tag-price","tag-slow"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/27847","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=27847"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/27847\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/27848"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=27847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=27847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=27847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}