Keeping you up to date on the latest data releases.
In April, U.S. import prices rose 2.2 percent. Although April is the seventh consecutive month marking gains greater than 1 percent, 2.2 percent is a decrease from March’s 2.6 percent rise. On a year-over-year basis, import prices advanced 11.2 percent, the highest increase since April 2010. Non-oil import prices rose 0.6 percent showing modest gains from March’s 0.4 percent advance. While gains in non-oil import prices fell from March to April, they were up from a year ago by 4.3 percent. The increase in both import prices and non-oil import prices can be attributed to higher fuel and nonfuel prices. Fuel import prices, a large contributor to overall import prices, jumped 6.7 percent in April and 34.8 percent from a year ago. Advances in nonfuel import prices were driven by 1.7 percent gains in nonfuel industrial supplies and materials as well as increases in finished goods.
U.S. export prices increased 1.1 percent in April, down slightly from March’s gain of 1.5 percent. On a year-over-year basis, export prices rose 9.6 percent, the largest advance since July 2008. With nonfarm export prices increasing 1 percent, April is the fourth consecutive month marking gains of 1 percent or greater.