U.S. import prices increase more than expected

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U.S. import prices rebounded more than expected in May, which could further diminish fears of deflation as the economy battles a recession.

The Labor Department said on Friday import prices rose 1.0% last month after an unrevised 2.6% drop in April. Economists polled by Reuters had forecast import prices, which exclude tariffs, increasing 0.6% in May.


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