August import prices push past consensus

August Import/Export Prices: Import prices +0.9% M/M vs. +0.5% consensus and +1.2% prior (revised from +0.7%).

Higher prices for both fuel and nonfuel imports contributed to the increase.

U.S. import prices declined 1.4% Y/Y.

Export prices +0.5% M/M vs. +0.4% consensus, +0.9% prior (revised from +0.8%).

U.S. export prices declined 2.8% over the past 12 months, the smallest Y/Y decrease since February 2020.