Import Prices Rise 1.6% on Higher Oil

The price of goods imported to the United States rose for a second straight month in April as oil prices increased, the Labor Department said Wednesday.

The 1.6% climb followed a revised 0.2% increase that was lower than originally reported.

April prices were forecast to rise 0.6%, Bloomberg reported. Excluding oil, prices fell 0.4%. Oil prices rose 15.4% in April.

U.S. export prices rose 0.5% in April, following a 0.7% drop, Labor said.