In April, the US import prices grew 0.3% m/m, below consensus forecast of 0.6%. Imported petroleum products’ prices were up 4.1% last month. March’s data was revised upwardly to 9.6%. Stripping petroleum products, import prices were up 0.1% m/m, a tad below projections. Nonautomotive consumer goods; import prices dropped again in April by 0.3% m/m.
Meanwhile, autos and parts’ import prices were up 0.1%, following the rise in March. Import prices for capital goods declined a bit by 0.1% m/m, whereas prices for food and beverages grew 1.3% m/m in April. Overall, nonpetroleum import prices fell 2.2% y/y in April, a slight rebound from March. The impacts of US dollar’s past appreciation on prices appear to be fading, said Barclays in a research report.
