ABJ - May 18 - U.S. import prices declined 0.5 per cent in April, according to the U.S. Bureau of Labor Statistics, following a 1.5 per cent increase in March. The April decrease was driven by lower fuel prices which more than offset a small increase in non-fuel prices. The price index for overall exports rose 0.4 per cent in April after a 0.8 per cent increase the previous month.

Prices for U.S. imports fell 0.5 per cent in April, the first monthly decrease since a 0.4 per cent decline in October 2011 and the largest one-month drop since the index decreased 0.6 per cent in June 2011. Despite the April decline, import prices rose 0.5 per cent over the past year, although that was the smallest 12-month advance since the index last recorded a year-over-year decrease in October 2009.

A 2.1 per cent drop in fuel prices led the overall decline in import prices in April. The decrease in fuel prices followed a 4.4 per cent increase in March and was the largest decline for the index since a similar 2.1 per cent decrease in August 2011. A 1.8 per cent decline in petroleum prices and a 14.1 per cent drop in natural gas prices each contributed to the April decrease in overall fuel prices.