(Alliance News) - US retail sales rose at a faster pace than expected in August, numbers on Tuesday showed.

According to the Census Bureau, retail sales rose 0.6% in August from July, beating the FXStreet cited consensus of a 0.2% rise.

Retail sales had also risen 0.6% in July from June, a growth rate upwardly revised from an initially reported 0.5%.

On-year, retail sales were 5.0% higher in August, picking up speed from a 4.1% rise in July.

Separate data showed export and import prices were higher than expected last month.

The export price index rose 0.3% in August from July, though it had been expected to be flat. In July, it also rose 0.3% from June.

The import price index advanced 0.3% in August from July also, beating consensus of a 0.1% fall and picking up speed from 0.2% in July from June.

By Eric Cunha, Alliance News news editor

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