US export, import prices come in lower than estimates in April

ANKARA

US export and import prices came in lower than market expectations in April, according to the Bureau of Labor Statistics data released on Friday.

Export prices in the US increased 0.6% in April. The market estimate for the figure was to show a 0.7% gain last month, after it jumped 4.1% in March.

On an annual basis, prices for exports rose 18% in April from the same month of last year.

"Higher prices for both agricultural and nonagricultural exports contributed to the overall increase in US export prices in April," the Bureau of Labor Statistics said in a report.

While the price index for agricultural exports advanced 1.1% in April, prices for nonagricultural exports rose 0.5% last month.

US import prices, on the other hand, remained unchanged in April, after increasing 2.9% in March.

The market expectation for the index was to show a gain of 0.6%.

Annually, import prices rose 12% in April, compared to the same month of 2021.

"Import fuel prices declined 2.4% in April following a 39.2% increase from December to March," the report said.