Imported Goods Prices Rise 0.2% in May

The upturn, which followed a revised 2.1% gain in April, topped economists’ forecasts of a 0.7% increase, Bloomberg reported.

Imported petroleum prices jumped 0.4% and was up 45% from a year earlier. Prices excluding fuel rose 0.4%. Food import prices fell 0.5%, the first drop since June 2010.

U.S. export prices rose 0.2% following a 0.9% gain in April, Labor said.