By Jamie Martin
Import prices in the United States edged up by 0.1 percent in April, following a 0.4 percent decline in March, according to the latest data from the U.S. Bureau of Labor Statistics.
This slight increase was largely driven by higher nonfuel import costs, which helped offset falling fuel prices. Export prices also rose by 0.1 percent in April, matching the gain recorded in March.
The overall rise in import prices reflects a mix of trends. Fuel import prices dropped by 2.6 percent in April, after falling 3.4 percent the previous month. This decline was due to lower petroleum and natural gas prices, which decreased by 2.0 percent and 17.5 percent, respectively.
Over the past year, import fuel prices fell by 12.0 percent the largest year-over-year drop since October 2024. While petroleum prices fell 13.3 percent year-over-year, natural gas prices surged 59.9 percent.
In contrast, nonfuel import prices rose 0.4 percent in April after a 0.1 percent dip in March. The increase was driven by higher prices for capital goods, industrial supplies, consumer goods, and vehicles. Over the past 12 months, nonfuel import prices climbed 1.2 percent.
Food, feed, and beverage import prices remained steady in April. Gains in green coffee prices balanced declines in cocoa and vegetable prices. Nonfuel industrial supplies and materials saw a 0.8 percent increase, bolstered by higher prices for major nonferrous metals and manufactured metal products.
Import prices for finished goods also rose. Capital goods jumped 0.6 percent the sharpest monthly gain since January 2022 due to increased prices for electronics and scientific equipment. Automotive vehicle prices were up 0.2 percent, and consumer goods prices climbed 0.3 percent, marking the first increase since October 2024.
On the export side, prices increased 0.1 percent for the second straight month, fueled by gains in both agricultural and nonagricultural goods.
Agricultural exports rose 0.5 percent in April, driven by fruit and nut prices, despite a drop in soybean prices. Nonagricultural export prices also rose 0.1 percent, helped by higher prices for consumer goods, capital goods, and vehicles.
Overall, U.S. export prices have increased 2.0 percent over the past year.
You can find all the details at, https://www.bls.gov/news.release/ximpim.nr0.htm
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Categories: National