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U.S. import prices rise sharply for third month in a row, but inflation still low

September 15, 2020


The cost of imported goods rose sharply in August for the third straight month, but they still haven’t recovered to pre-pandemic levels and inflation more broadly is still quite low.

The import price index advanced 0.9% last month, following increases of more than 1% in the prior two months, the government said Tuesday.

Yet even after three straight increases, import prices are still running 2.8% below year-ago levels.

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