US April import prices jump past forecasts on fuel costs
By Alexander Bueso
Date: Thursday 16 May 2024
(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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