US import prices rebound in July on higher consumer goods costs

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• US import prices rebound in July on higher consumer goods costs</p>

<p>August 15, 2025 at 8:54 PM</p>

<p>WASHINGTON (Reuters) -U.S. import prices rebounded in July, boosted by higher costs for consumer goods, the latest indication that inflation was poised to pick up because of tariffs.</p>

<p>Import prices increased 0.4% last month after a downwardly revised 0.1% dip in June, the Labor Department's Bureau of Labor Statistics said on Friday. Economists polled by Reuters had forecast import prices, which exclude tariffs, unchanged after a previously reported 0.1% gain in June.</p>

<p>Though import prices do not include tariffs, the elevated readings suggested exporting nations are not cutting prices to offset the impact of higher costs from duties on consumers.</p>

<p>In the 12 months through July, import prices slipped 0.2% after falling 0.5% in June.</p>

<p>Producer price data on Thursday showed a surge in goods prices excluding the volatile food and energy components, bolstering economists expectations that consumer inflation would accelerate in the months ahead, despite what has so far been a moderate tariff pass-through.</p>

<p>Imported fuel prices increased 2.7% in July after rising 0.8% in June. Food prices decreased 0.1% after dropping 1.3% in the prior month. Excluding fuels and food, import prices advanced 0.3%. Core import prices eased 0.1% in June. In the 12 months through July, they increased 0.8%.</p>

<p>That partly reflects dollar weakness against the currencies of the United States' main trade partners. The trade-weighted dollar is down about 6.7% this year.</p>

<p>Prices for imported consumer goods excluding motor vehicles increased 0.4% last month after edging up 0.1% in June. Imported capital goods prices gained 0.1% while those for motor vehicles, parts and engines decreased 0.2%.</p>

<p>(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)</p>

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