Import Price Index Increased in the USA

Import Price Index Increased in the USA

In the United States (US), the import price index rose 1.4 percent in June. This increase represents the highest monthly increase since March 2012. The export price index increased by 1.4 percent in this period and recorded its biggest increase since March 2011. Biggest Increase of the Last 8 Years The US Department of Labor announced the import and export price indices for June 2020. According to the results, the import price index in the US increased by 1.4 percent in June compared to the previous month. The market expectation for this rate, which means the biggest increase of the last 8 years, was a 1 percent increase in June. The index had increased by 0.8 percent in May. In June, the import price index decreased by 3.8 percent compared to the same period of the previous year. In the said period, the 21.9 percent increase in fuel prices played an important role in the rise of the import price index. Increase in Export Price Index Was Above Expectations In the US, the export price index increased by 1.4 percent in June, as in imports. The index, which has shown its biggest increase since March 2011, was expected to increase by 0.8 percent in this period. In May, the export price index had increased by 0.4 percent. Compared to the same period of last year, the export price index decreased by 4.4 percent. High export prices of non-farm products and agricultural products played an important role in the increase of the index.