US import-export prices stall in May

US import prices were flat in May, slowing from a 0.1% rise in April and defying market expectations for a 0.2% drop, the Bureau of Labor Statistics reported.

Year-on-year, import prices edged up 0.2%. Excluding petroleum, import prices rose 0.3% month-on-month and 1.7% from a year earlier.

Export prices fell by 0.9% in May, down from a 0.1% gain in April and missing forecasts for a 0.2% increase. Annually, export prices climbed 1.7%. Excluding agricultural products, export prices declined 1% on the month but were up 1.7% year-on-year.