Import Prices Up 0.8%, Twice Forecasts

U.S. import prices (search) rose 0.8 percent in April, the Labor Department (search) said on Friday, doubling forecasts as costs for imported petroleum and industrial supplies continued to advance in a potential risk to inflation.

Wall Street had predicted a 0.4 percent increase in the price of imported goods, which are monitored as an early warning of inflation in the production chain that could subsequently show up in consumer prices.

March's import price numbers were revised up to a 2.0 percent gain from an initially reported 1.8 percent rise.

Excluding petroleum, import prices rose by 0.4 percent in capital goods fell by 0.1 percent, matching the decline in the price of consumer goods excluding autos.