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U.S. Import Prices Unexpectedly Unchanged In April

After reporting a sharp increase in U.S. import prices in the previous month, the Labor Department released a report on Friday showing imports prices were unexpectedly unchanged in the month of April.

The Labor Department said import prices came in flat in April after surging by an upwardly revised 2.9 percent in March.

Economists had expected import prices to climb by 0.6 percent compared to the 2.6 percent jump originally reported for the previous month.

Meanwhile, the report showed export prices advanced by 0.6 percent in April after soaring by a downwardly revised 4.1 percent in March.

Export prices were expected to increase by 0.7 percent compared to the 4.5 percent spike originally reported for the previous month.

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