13 June 2007

May import prices rise 0.9 percent, higher than expected - Jun. 13, 2007

The dollar is falling, pushing up import prices, and interest rates.

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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