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A report released by the Labor Department on Thursday showed U.S. import prices increased in line with economist estimates in the month of June.

The Labor Department said import prices advanced by 1.0 percent in June after surging by an upwardly revised 1.4 percent in May.

Economists had expected import prices to increase by 1.0 percent compared to the 1.1 percent jump originally reported for the previous month.

Meanwhile, the report said export prices shot up by 1.2 percent in June after spiking by 2.2 percent in May. Export prices were expected to surge up by 1.3 percent.


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