May import price data exceeds expectations, signaling persistent inflationary pressures ahead of the FOMC meeting.
US import prices rose 1.9% in May, outpacing the 1.0% estimate and matching April’s gain. The increase reflects higher costs for foreign goods, a key input for domestic inflation trends.
Export prices climbed 1.9%, above the 1.2% consensus, though down from April’s 3.3% rise. The data, released by the Bureau of Labor Statistics, follows earlier CPI and PPI reports but offers a clearer view of global price dynamics.
The US dollar showed little reaction, with markets focused on Wednesday’s Federal Reserve policy decision.