September 11, 2009

Import prices rose in August

The U.S. Department of Labor said import prices rose 2 percent in August, pushed by a sharp rise in petroleum prices.

Petroleum import prices rose 9.8 percent during the month, while non-petroleum import prices rose 0.4 percent, the department said.

Export prices rose 0.7 percent in the month, with a 0.2 percent rise in agricultural export prices and a 0.8 percent rise in non-agricultural export prices, the report said.

Import prices have risen for five of the past six months, but have still fallen sharply from a year ago, down 15 percent, the department said.

Export prices have risen in four of the past five months, but have fallen 6.1 percent over the past year, the report said.