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May US Import, Export Prices Both Rise More Than Expected

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US import prices rose by 1.9% in May, well ahead of the 1% increase expected in a survey compiled by Bloomberg as of 7:40 am ET and following a 2.0% gain in April.

Excluding a 13% jump in petroleum prices, import prices rose by 0.8% in May after a 0.5% April increase. A 0.5% increase was expected for May.

Excluding all fuels, import prices were up 0.8% in May.

Export prices increased by 1.3% in May, above expectations for a 0.9% gain and following a 3.5% jump in April. Export prices were up 1.2% excluding a 1.2% gain in agricultural commodity prices.

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