This is going to get worse, hitting housing, and the stock market.
May import prices rise 0.9 percent, higher than expected
WASHINGTON (Reuters) -- Import prices rose 0.9 percent, the fourth straight monthly gain, on higher petroleum costs, according to a Labor Department report issued Wednesday.
Wall Street economists were expecting to see a 0.3 percent gain in import prices following an upwardly revised 1.4 percent increase in April.
U.S. government bond prices fell Wednesday after higher-than-expected retail sales and import prices exacerbated bond investors concerns that the Federal Reserve might have to raise interest rates next year.
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