WASHINGTON—U.S. import prices increased solidly in May amid higher prices for petroleum products, but there were tentative signs of some moderation in underlying imported inflation pressures.
Import prices rose 0.6 percent last month after gaining 0.4 percent in April, the Labor Department said on Wednesday. In the 12 months through May, import prices increased 11.7 percent after advancing 12.5 percent in April. Economists polled by Reuters had forecast import prices, which exclude tariffs, increasing 1.1 percent.
