US import prices miss forecasts in April

US import prices edged higher last month on the back of dearer fuel imports.

According to the Department of Labor, import prices rose at a 0.2% month-on-month clip (consensus: 0.7%) in April but were lower by 0.2% on a year ago.

Versus March, fuel import prices bounded ahead by 2.5%, while the cost of non-fuel imports decreased by 0.1%.

On the export side of the equation, prices increased by 0.2% on the month and 0.3% on the year, despite a 1.5% drop in the cost of agricultural exports.