US April import prices jump past forecasts on fuel costs

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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