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US import prices jump in May on the back of dearer fuel purchases
Import prices in the States jumped last month, pushed higher by a sharp increase in the bill for fuel imports.
Total US import prices rose by 0.6% month-on-month in May, according to the Bureau of Labor Statistics.
Versus a year ago, import prices were higher by 4.3%.
Economists had forecast a rise of 0.5% month-on-month.
In comparison to April, fuel import prices were up by 4.1% and those of non-fuel goods purchased from abroad by 0.2%.
Export prices were also dearer, climbing by 0.6%, led by a 1.6% increase in the cost of agricultural exports.
Non-agricultural export prices were up by 0.5%.
Year-on-year, export prices were 4.9% higher.