FX.co ★ US Import Prices Unexpectedly Rise

In April 2025, U.S. import prices saw a modest increase of 0.1% from the previous month, according to adjusted figures, following a revised 0.4% decrease in March. This uptick defied the anticipated drop of 0.4% projected by analysts. The small rise occurred despite the implementation of a baseline 10% tariff on imports at the beginning of April, which many expected would compel businesses to reduce prices to maintain competitiveness. Comparatively, on an annual basis, import prices to the U.S. also grew by 0.1%. Notably, non-fuel imports experienced the most significant annual price increase, rising by 0.4% compared to a 0.1% decrease in March. This surge was driven by marked price increases in capital goods, non-fuel industrial supplies and materials, consumer goods, and automotive vehicles. Conversely, fuel import costs continued their downward trend for the second consecutive month, declining by 2.6% following a 3.4% drop in March.