Import Prices Up 0.8%

Washington, DC, May 13–Prices of imports into the United States rose a larger-than-expected 0.8% in April on higher prices for oil, metals and chemicals, the Labor Department reported Friday.

Excluding the 3.1% increase in imported petroleum prices, import prices increased 0.4%, the largest gain since November.

Economists expected import prices to rise about 0.5%, according to a survey conducted by MarketWatch.

Import prices increased an upwardly revised 2% in March as petroleum prices jumped 12.3%.

In the past 12 months, import prices have risen 8.1%, the biggest year-over-year gain since November.

Prices of U.S. exports increased 0.6% on higher prices for industrial materials, airplanes and consumer goods.

Excluding agricultural goods, export prices rose 0.5%.

Prices of non-oil industrial supplies increased 2.1%. Prices of unfinished metals rose 2.3%, while prices of imported chemicals increased 1.2%. Prices of crude materials excluding fuels increased 1.5%.

Prices of imported textiles fell 0.5%.

Prices of exported capital goods fell 0.3%, while prices of exported industrial supplies rose 1.9%, the largest gain since October.