Economic Buzz: Import Prices In US Unchanged In April

16 May 2022 , 09:12 AM

After reporting a sharp increase in U.S. import prices in the previous month, the Labor Department released a report showing imports prices were unexpectedly unchanged in the month of April. The Labor Department said import prices came in flat in April after surging by an upwardly revised 2.9 percent in March. The report said prices for fuel imports slumped by 2.4 percent in April after skyrocketing by 17.3 percent in March, while prices for non-fuel prices rose by 0.4 percent in April after jumping by 1.2 percent in March. The report also showed the annual rate of growth in imports prices slowed to 12.0 percent in April from an upwardly revised 13.0 percent in March. Export prices advanced by 0.6 percent in April after soaring by a downwardly revised 4.1 percent in March. Export prices in April were up by 18.0 percent compared to the same month a year ago, reflecting a modest slowdown from the revised 18.6 percent spike in March.Powered by Commodity Insights