Economy

Import export prices August 2020

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An aerial view of oil tankers anchored near the ports of Long Beach and Los Angeles amid the coronavirus pandemic on April 28, 2020 off the coast of Long Beach, California.

Mario Tama | Getty Images

U.S. import prices increased more than expected in August and gains in the prior month were revised sharply higher, supporting the view that inflation pressures were building up.

The report from the Labor Department on Tuesday followed data last week showing further increases in both consumer and producer prices in August. Firming inflation, however, is unlikely to discourage the Federal Reserve from injecting more money into the economy to aid the recovery from the Covid-19 recession amid…



Source cnbc.com

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