|
The
Labor Department said on Tuesday import prices increased 1.4
percent last month, the largest rise since March 2012, after an
upwardly revised 0.7 percent gain in April.
Economists polled by Reuters had forecast import prices rising
0.7 percent in May after April's previously reported 0.3 percent
gain. In the 12 months through May, import prices fell 5.0
percent, the smallest decline since November 2014.
The dollar's surge and a plunge in oil prices between June 2014
and December 2015 had dampened inflation. But with the dollar
weakening 1.5 percent against the currencies of the United
States' main trading partners this year and oil prices near $50
per barrel, that drag is starting to lift.
Last month, imported petroleum prices surged 17.4 percent, the
largest increase since 1999, after rising 11.0 percent in April.
Import prices excluding petroleum rose 0.4 percent, the first
monthly increase since March 2014, after being unchanged in
April.
Imported food prices climbed 0.3 percent last month.
Prices for imported industrial supplies and materials excluding
petroleum increased 1.6 percent, the biggest rise since February
2014.
Imported capital goods prices were unchanged, while the cost of
imported automobiles increased 0.2 percent. That was the biggest
gain since April 2014. Prices for imported consumer goods
excluding autos edged up 0.1 percent.
The report also showed export prices jumped 1.1 percent in May,
the biggest gain since March 2011, after rising 0.5 percent in
April. Export prices fell 4.5 percent from a year ago, the
smallest drop since December 2014.
((Reporting By Lucia Mutikani; Editing by Andrea Ricci) ((Lucia.Mutikani@thomsonreuters.com;
1 202)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
