Import prices in the U.S. unexpectedly crept higher in the month of July, according to a report released by the Labor Department on Thursday.
The Labor Department said import prices inched up by 0.1 percent in July after coming in unchanged in June. Economists had expected import prices to edge down by 0.1 percent.
Meanwhile, the report said export prices climbed by 0.7 percent in July after dipping by a revised 0.3 percent in June.
Economists had expected export prices to come in unchanged compared to the 0.5 percent decrease originally reported for the previous month.