By Jessica Coacci
U.S. import prices rose in April from March and were driven by higher costs for fuel imports, data from the Bureau of Labor Statistics showed Thursday.
Petroleum import prices jumped 19% as the war in Iran drove crude oil prices sharply higher. Prices for nonpetroleum imports were up 0.7%, the BLS data showed.
Overall import prices rose 1.9% in April, slightly higher than the upwardly revised 0.9% increase in March, the data showed.
That result was more than the 0.9% increase expected by a consensus of economists polled by The Wall Street Journal. Year-on-year prices were up 4.2%, the BLS said. The 12-month rise in U.S. import prices was the largest on-the-year advance since the index increased 4.2% for the year ended October 2022.
Import prices exclude duties, such as tariffs imposed on imports by the Trump administration, as well as transportation costs.
Write to Jessica Coacci at jessica.coacci@wsj.com
(END) Dow Jones Newswires
05-14-26 0904ET
