Import prices in the U.S. increased by more than expected in the month of August, according to a report released by the Labor Department on Friday, with the report also showing a much bigger than expected surge in U.S. export prices.
The Labor Department said import prices climbed by 0.5 percent in August following a downwardly revised 0.1 percent uptick in July. The advance represents the largest increase in import prices since last May.
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