US: Import prices to post a slight increase of 0.1% m-o-m for April - Nomura

The research team at Nomura suggests that the consensus expects a slight increase of 0.1% m-o-m for April in import prices for the US.

Key Quotes

“Import prices in March were down 0.2% m-o-m, driven primarily by a sharp decline in petroleum import prices (-3.6%). Excluding petroleum prices, which can vary substantially from month to month, import prices increased steadily by 0.2%. However, consumer goods import prices, which is a relevant component of core CPI, fell 0.2%. Oil prices in April increased somewhat, potentially alleviating the drag from petroleum import prices from last month. In this regard, consensus expects a slight increase of 0.1% m-o-m for April.”