May 12, 2006 11:15 AM, EDT

Import Prices Rise 2.1%; Trade Deficit Declines

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he price of goods imported to the United States jumped 2.1% in April, reflecting higher petroleum costs, the Labor Department said Thursday.

The surge followed a 0.2% decline in March. Excluding petroleum, prices were unchanged.

Economists had forecast prices to rise 1.2%, Bloomberg reported.

Meanwhile, the U.S. trade deficit narrowed for a second straight month, to $62 billion from $65.6 billion in February.

Imports fell 0.8% to $176.7 billion, while exports rose 1.9% to a record $114.7 billion.