Import Prices Rise 1.5% in July

The price of goods imported to the United States rose for a sixth straight month in July, on higher oil costs, the Labor Department reported Friday.

Prices rose 1.5%, the biggest gain since March, following a revised 0.9% increase in June that was smaller than originally reported, Labor said. Prices excluding petroleum gained 0.2%.

Economists’ estimated import prices would rise 1%, Bloomberg reported.

Export prices rose 0.2% after rising 0.3% rise in June.