Import Prices Rise 0.8% in April

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rices of imported goods rose 0.8% in April, following a 1.8% jump in March, the Labor Department reported Friday.

The increase was twice what analysts had expected, Bloomberg reported. Higher prices for imports can hurt truckers who carry goods inland from ports to stores and warehouses.

Oil prices rose 3.1% following a 10.6% jump in March. Excluding petroleum, import prices rose 0.4%.

Import prices for consumer and capital goods fell, suggesting foreign producers were reluctant to raise prices and risk losing sales, Bloomberg reported.

Automobile prices rose 0.2% in April, the first gain in four months. Prices for all other consumer goods fell 0.1%, the second straight decline.

Clothing prices fell 0.3%, equaling March’s drop.

hinese imports rose 0.2%, Japanese imports rose 0.1% and Canadian imports rose 1.2%.

Labor also reported that prices of U.S. products exported to other countries rose 0.6%, matching March’s rise.