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July US Import, Export Prices Both Fall Unexpectedly

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US import prices fell by 0.4% in July compared with a 0.1% increase expected in a survey compiled by Bloomberg as of 7:45 am ET and following a 0.3% decline in June.

Excluding a 7.5% drop in petroleum prices, import prices rose by 0.3% in July after a 0.2% June increase. A 0.1% increase was expected for July.

Excluding all fuels, import prices were up 0.4% in July.

Export prices fell by 1.3% in July, below expectations for a flat reading and following a 0.7% drop in June. Export prices were down 1.5% excluding a 1.0% gain in agricultural commodity prices.

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