by John Carney
Breitbart.com
In a trend that underscores the intransigence of high inflation in the U.S., the cost of imported goods rose in April for the fourth month in a row, marking the fastest pace of increasing import prices in two years.
The Department of Labor’s import-price index surged 0.9 percent last month, government data showed Thursday. This was three times higher than what was expected.
The broad-based increase was not limited to energy, as import prices excluding fuel also climbed by 0.7 percent.
Import prices for nonfuel industrial supplies and materials jumped 3.0 percent in April, marking the largest monthly increase since March 2022. April’s rise follows a 1.1 percent advance in March, driven primarily by higher prices for agricultural products.