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Financial News: U.S. Import, Export Prices Unexpectedly Decrease In May

U.S. Import, Export Prices Unexpectedly Decrease In May

06/14/2024 - 08:36:00 (RTTNews)

(RTTNews) - A report released by the Labor Department on Friday showed unexpected decreases by U.S. import and export prices in the month of May.

The Labor Department said import prices fell by 0.4 percent in May following a 0.9 percent advance in April. Economists had expected import prices to inch up by 0.1 percent.

Prices for fuel imports led the way lower, tumbling by 2.0 percent, although prices for non-fuel imports also dipped by 0.3 percent.

Meanwhile, the report said export prices slid by 0.6 percent in May after climbing by an upwardly revised 0.6 percent in April.

Economists had expected export prices to come in unchanged compared to the 0.5 percent increase originally reported for the previous month.

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