Import Prices See Increase in May
Ann Arbor, MI, June 12, 2020-Led by higher fuel prices, U.S. import prices increased 1% in May, the largest one-month advance since the index increased 1% in February 2019, according to the U.S. Bureau of Labor Statistics. Nonfuel prices also went up.
The increase comes after declining 2.6% in April and 2.4% in March, the report states.
Despite the increase, the price index for U.S. imports decreased 6% from May 2019 to May 2020.
The price index for U.S. exports also rose 0.5% in May after seeing a 3.3% drop the previous month.
Read the full report here.