Import prices in the U.S. unexpectedly showed a modest increase in the month of July, according to a report released by the Labor Department on Wednesday.
The Labor Department said import prices rose by 0.2 percent in July after plunging by a revised 1.1 percent in June.
Economists had expected import prices to come in unchanged compared to the 0.9 percent slump originally reported for the previous month.
The report also showed an unexpected uptick in export prices, which crept up by 0.2 percent in July after falling by a revised 0.6 percent in June.
Export prices had also been expected to come in unchanged compared to the 0.7 percent decrease originally reported for the previous month.