US import prices rise for the first time since December 2022 in April

The US Department of Labor said that import prices in the United States rose by 0.4% in April after declining by 0.8% in March, which is the first rise since December 2022, and on an annual basis, import prices fell by 4.8% in April, which is the third consecutive monthly decline.

Imported fuel prices increased by 4.5% in April with a 5.7% increase in petroleum prices offsetting a 17.4% decrease in natural gas prices, and the cost of importing foodstuffs increased by 0.2% in April.

Core import prices excluding food and energy components fell 0.5% in April, and import prices from China fell 0.3%, continuing this year's decline as they fell 1.9% year-on-year.