US April import prices jump past forecasts on fuel costs

16th May 2024 14:25

(Sharecast News) - The cost of goods purchased overseas jumped last month amid dearer prices for fuel imports.

According to the Department of Labor, in seasonally adjusted terms, import prices leaped 0.9% month-on-month (consensus: 0.3%).

That was chiefly the result of a 2.4% jump in fuel import prices, while those of non-fuel imports rose by 0.7%.

Nonetheless, in year-on-year terms, import prices were up by only 1.1%.

Export prices meanwhile were 0.5% higher over the month and 1.0% lower on the year.

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