U.S. Import, Export Prices Unexpectedly Inch Up 0.1% In April

(RTTNews) - The Labor Department released a report on Friday unexpectedly showing modest increases by U.S. import and export prices in the month of April.

The report said import prices crept up by 0.1 percent in April after falling by a downwardly revised 0.4 percent in March.

Economists had expected import prices to decrease by 0.4 percent compared to the 0.1 percent dip originally reported for the previous month.

Meanwhile, the Labor Department said the annual rate of growth by import prices slowed to just 0.1 percent in April from 0.9 percent in March.

The Labor Department said export prices also inched up by 0.1 percent in April, matching an upwardly revised uptick in March.

Economists had expected export prices to decline by 0.5 percent compared to the unchanged reading originally reported for the previous month.

The report said the annual rate of growth by exports prices slowed to 2.0 percent in April from 2.4 percent in March.