U.S. import prices increased 0.6 percent in August, the U.S. Bureau of Labor Statistics reported today, following declines in the previous 3 months. The price index for U.S. exports also advanced 0.6 percent in August, after increasing 0.5 percent in July.
Hurricane Harvey: Hurricane Harvey did not impact the collection of the import and export price index data for August because the reference period for the data is the first week of the month.

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. Higher import prices for both fuel and

nonfuel contributed to the rise in August. Prices for U.S. imports also increased over the past 12 months, advancing 2.1 percent.