U.S. import prices rose less than expected in April as increases in the cost of ...
WASHINGTON - U.S. import prices rose less than expected in April as increases in the cost of petroleum and food were tempered by the largest decrease in the price of capital goods in 10 years, suggesting inflation could remain tame for a while.
The Fed early this month kept rates unchanged and signaled little inclination to adjust monetary policy anytime soon. Fed Chairman Jerome Powell said he believed the weak inflation readings “may wind up being transient.” The cost of imported capital goods dropped 0.4% last month, the biggest fall since March 2009. Prices for imported consumer goods excluding automobiles decreased 0.3% in April, after declining by the same margin in March.
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