The U.S. import price index was up 1.8% in April, according to data released by the Bureau of Labor Statistics yesterday.

IFR Markets had predicted a 1.7% increase for the imports index. The 1.8% increase in the index followed a revised 2.9% increase in import prices in March, originally reported as a 2.8% increase.

Excluding petroleum, the import price index rose 1.1% in the month.

Meanwhile, export prices rose 0.3% after a 1.5% increase in March.

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