April import price index was +0.3% after a..>

US DATA: April import price index was +0.3% after a downward revised 

-0.2% in March. Import prices ex petro +0.1% and ex all fuels +0.2%. The 

data is unlikely to cause much concern as PPI and CPI data have already 

been reported for April.

- The rise in import prices ex fuels was driven by gains in industrial 

supplies ex fuels, autos and consumer goods. These were partially offset 

by a flat reading for capital goods and a decline in foods, feeds, and 

beverages.

- Overall import prices +3.3% y/y, the same as the previous two months, 

and non-fuel imports +1.8% y/y. Imported inflation is still largely

energy-driven, with underlying import inflation more subdued.

- Export prices +0.6% and were +0.7% ex. agriculture. Agricultural 

export prices -1.2%. Overall export prices +3.8% y/y, up sharply from 

3.4% in March, while exports ex. agriculture were +4.0% y/y.