U.S. import prices rose 0.3% in July, the smallest gain since November, the Labor Department said Friday.

Import prices had risen by almost 1% or more every month since December.

Imported fuel prices rose 2.9% in July. That’s down from gains over over 5% in the prior two months. Excluding fuel, import prices were flat in July. That’s the lowest reading since last November.

Over the past year, the price index for imports has risen 10.2%. That’s down from a high of an 11.6% rate hit in May.

Export prices rose 1.3% in July. Over the past year, export prices are rising at a 17.2% rate, up from 16.9% in June.

The yield on the 10-year Treasury note
TMUBMUSD10Y,
1.346%

moved off its lows after the data to 1.352%.

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