US April import price index +4.1% vs +3.6% y/y expected

US April import and export prices

• Prior was +4.2% y/y (revised to 4.3%)
• Import price index +0.5% m/m vs +0.1% expected
• Ex-fuels prices up +0.3% m/m
• Petroleum +1.6% m/m
• Prior import price index -0.2% (revised to +0.1%)
• Export prices 3.0% y/y vs +3.6% y/y expected

In March, import prices were depressed by the drops in energy prices but it's been revised higher. The year-over-year prices reflected a 43.8% y/y increase in petroleum prices.

Bottom line: There are some price pressures here but this set of numbers is low on the Fed's priority list. CPI on Friday will be a market mover.