Import prices in the United States were flat in June, as a drop in oil prices was offset by higher prices for other products, notably food.

The Labor Department announced on Tuesday that import prices were unchanged last month, following a 0.2% decline in May.

In June, fuel prices fell by 1% after having already fallen by 0.4% in May, but food prices rebounded by 0.7% after a 1.6% decline the previous month.

Excluding oil, prices of imported products rose by 0.2% in June, compared with a 0.3% decrease the previous month.

Over the 12 months to the end of June, import prices rose by 1.6%, their biggest gain since December 2022 (+3.2%).

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