U.S. Import Prices Report

WASHINGTON (Reuters) – U.S. import prices barely rose in July, continuing the trend of low inflation readings that have increased market expectations for an interest rate cut next month.

Import prices edged up 0.1% last month, following a modest rebound in energy product costs after remaining unchanged in June, as reported by the Labor Department’s Bureau of Labor Statistics on Thursday. Economists surveyed by Reuters had anticipated a 0.1% decline in import prices, which exclude tariffs.

In the 12 months through July, import prices rose by 1.6%, compared to a 1.5% increase in June. This report comes alongside mild rises in consumer and producer prices in July, fueling expectations of a 25 basis point interest rate cut from the Federal Reserve on September 25.