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    US import prices rise 1.4% in May

    Prices for imported goods rose 1.4% in May, marking the third increase in a row and their fastest pace in over four years.May gain exceeded expectations of a 0.7% rise and follows an upwardly revised 0.7% increase in April.“The May rise was primarily driven by higher fuel prices, although nonfuel prices also increased,” said the US Labor Department.US export prices advanced 1.1% in May, after rising 0.5% the previous month.

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