U.S. import prices rose in August
Posted 11-05-2012 at 08:28 AM by marcitize12
U.S. import prices rose in August for the first time in five months as the cost of imported oil jumped, a factor that could weigh on American consumers and temporarily boost inflation. Import prices climbed 0.7 percent last month, the Labor Department said on Wednesday. The cost of petroleum imports increased 4.1 percent. Higher prices at the pump threaten to hurt consumers' pocket books. Analysts had expected overall import prices would rise 1.4 percent in August.
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