US: Import prices increased 0.6 percent in August

"U.S. import prices increased 0.6 percent in August following declines in the previous 3 months," the U.S. Bureau of Labor Statistics reported on Tuesday.

Key highlights:

• The price index for U.S. exports also advanced 0.6 percent in August, after increasing 0.5 percent in July. 
• Import prices rose 0.6 percent in August, the first monthly rise since a 0.2-percent increase in April and the largest advance since the index rose 0.6 percent in January. 
• The last time import prices recorded a larger increase was a 0.7-percent advance in June 2016.
• Fuel prices increased 4.2 percent in August, the first monthly advance since the index rose 0.3 percent in February and the largest advance since the index increased 6.1 percent in January.
• The price index for nonfuel imports advanced 0.3 percent in August, after edging down 0.1 percent in July.