Economic Report: Import prices rise 0.1%, export prices up 0.2% in July

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OAKLAND, CA – MARCH 22: Shipping containers are seen on a container ship that is docked at the Port of Oakland

Import prices rose 0.1% in July, marking the fifth straight month of increases, the Labor Department said Thursday.

The cost of imports is still 3.7% lower than a year ago, however.

Export prices increased 0.2% in July, the fourth monthly rise. But export prices are 3.0% lower than in July 2015.

In July, import prices rose despite a decline in fuel costs. Fuel prices were down 2.5% while all other items rose 0.3%. Imports excluding fuel also rose 0.3% in May, and the two months marked the largest monthly increase since March 2014.

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