US Import and Export Prices Jump Most Since 2022 on Fuel Costs

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US import and export prices surged in April by the most in four years on oil-market pressures tied to the Iran conflict, adding to evidence of higher inflation in the world’s largest economy.

The import price index rose 1.9% from the prior month, the biggest increase since March 2022, as petroleum costs surged 19%, Bureau of Labor Statistics data showed Thursday. Export prices rose 3.3% from the prior month, also the most in more than four years.