US Import Prices Rise Less than Expected

U.S. import prices rose less than expected in April as a rebound in the cost of petroleum products was tempered by a drop in food prices, the latest indication that inflation pressures were increasing moderately.

The Labor Department said on Friday import prices rose 0.3 percent last month. Data for March was revised to show import prices falling 0.2 percent instead of being unchanged as previously reported.



Economists polled by Reuters had forecast import prices rising 0.5 percent in April. In the 12 months through April, import prices increased 3.3 percent, matching March’s gain.

The report came on the heels of data this week showing tame monthly consumer and wholesale price readings in April. But with oil prices rising in recent days, economists expect prices to push higher in the coming months.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza