US: Import prices advance 0.5% in April, up 0.3% excluding fuel; export prices up 0.2%

The price index for U.S. imports advanced 0.5% in April, the U.S. Bureau of Labor Statistics reported on Wednesday, after ticking up 0.1% the previous month.

Key findings:

• Higher fuel prices and nonfuel prices each contributed to the increase in April
• U.S. export prices rose 0.2 percent in April following a 0.1-percent advance in March
• Prices for U.S. exports have not recorded a monthly decline since the index fell 0.8 percent in August 2016