A report released by the Labor Department on Friday showed U.S. import prices increased by slightly more than expected in the month of April.
The Labor Department said import prices climbed by 0.7 percent in April after surging by an upwardly revised 1.4 percent in March.
Economists had expected import prices to increase by 0.6 percent compared to the 1.2 percent jump originally reported for the previous month.
The report showed export prices also advanced by 0.8 percent in April following a 2.4 percent spike in March. Export prices were expected to rise by 0.6 percent.
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