Prices for imported goods into the United States rose significantly in April, according to a report published Thursday by the U.S. Labor Department.
The data showed import prices climbed 1.9% during the month after increasing by an upwardly revised 0.9% in March.
Economists had forecast a 1.0% rise in import prices, compared with the originally reported 0.8% increase in the previous month.
The report also showed export prices recorded a strong increase, jumping 3.3% in April following a downwardly revised 1.5% gain in March.
Analysts had expected export prices to rise 1.1%, compared with the previously reported 1.6% increase for March.