US Import Prices Increase in August on Capital, Consumer Goods

U.S. import prices unexpectedly rose in August, boosted by strong increases in the costs of capital and consumer goods, suggesting domestic inflation was poised to accelerate in the coming months.

Import prices increased 0.3% last month after a downwardly revised 0.2% rebound in July, the Labor Department's Bureau of Labor Statistics said on Tuesday. Economists polled by Reuters had forecast import prices, which exclude tariffs, would dip 0.1% after a previously reported 0.4% advance in July.

Though import prices do not include tariffs, the higher readings suggested...

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