May 13, 2009

U.S. import prices rise in April

The U.S. Department of Labor said import prices rose 1.6 percent in April, pushed by a sharp rise in import petroleum prices.

Petroleum import prices rose 15.4 percent during the month, offsetting a 0.4 percent decline in non-petroleum import prices, the department said.

Export prices rose 0.5 percent in the month, pushed by agricultural export prices, which gained 3.6 percent. Non-agricultural exports rose 0.3 percent in April, the report said.

Compared to a year ago, import prices have increased 16.9 percent with a push from a 64.7 percent rise in petroleum import prices. Export prices have risen 8 percent in the past 12 months with a 33.3 percent rise in agricultural export prices, the report said.