A report released by the Labor Department on Friday showed import prices in the U.S. decreased by slightly more than expected in the month of August.
The Labor Department said import prices fell by 0.3 percent in August after inching up by 0.1 percent n July. Economists had expected import prices to dip by 0.2 percent.
The report also showed a notable decline by export prices, which slid by 0.7 percent in August after climbing by a downwardly revised 0.5 percent in July.
Economists had expected export prices to edge down by 0.1 percent compared to the 0.7 percent increase originally reported for the previous month.
At 10 am ET, the University of Michigan is scheduled to release its preliminary reading on consumer sentiment in the month of September.
The University of Michigan’s consumer sentiment index is expected to inch up to 68.0 in September after rising to 67.9 in August.