US import prices were little changed in June

According to the U.S. Department of Labor, in seasonally adjusted term, the country's import price index declined at a month-on-month pace of 0.2%.

That was better than the 0.1% dip forecast by economists.

Yet it was more than offset by a two-tenths of a percentage point upwards revision to May's rate of change to -0.4%.

Fuel import prices were the reason for the 'miss', rising by 0.8%, while non-fuel import prices dropped by 0.4%.

Export prices meanwhile slid by 0.9%, a drop that followed a 1.9% fall in the month before.

Prices for agricultural exports fell by 1.6% and those for non-agricultural ones by 0.9%.

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