U.S. import prices climbed unexpectedly in June as goods from China hit an 18-year high

The Bureau of Labor Statistics said import prices beat expectations, with the annual gain of 7.1% the largest since August 2022

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U.S. import prices rose 0.3% in June, the Bureau of Labor Statistics reported Friday, as higher costs for nonfuel imports more than offset a 0.4% decline in fuel imports. The annual increase of 7.1% was the largest since August 2022.

Economists surveyed by Dow Jones had expected a 0.8% decline for the month, according to CNBC.

Import prices from China climbed 0.9% in June, a move the BLS identified as the biggest single-month jump in........

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