US: Prices for US imports edged up 0.1% in July

"Prices for U.S. imports edged up 0.1 percent in July, led by higher fuel prices which more than offset lower prices for nonfuel imports," the U.S. Bureau of Labor Statistics said on Tuesday.

Key quotes:

• The July increase in import prices followed declines in each of the 2 previous months
• U.S. export prices advanced 0.4 percent in July, after decreasing 0.2 percent in June
• Prices for U.S. exports rose 0.8 percent over the past year, continuing an upward trend
• Fuel prices rose 0.5 percent in July following declines of 2.6 percent in June, 0.9 percent in May, and 0.4 percent in April
• In contrast, nonfuel import prices edged down 0.1 percent in July, the first monthly decrease since a 0.1-percent drop in January