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Highlights
Import and export price data show inflationary pressures moving into what are still however subdued consumer prices. Import prices for consumer goods rose 0.4 percent in April extending what is an upward monthly trend though the year-on-year rate, at plus 0.6 percent, has just begun to rise into positive ground. Export prices for consumer goods, also up 0.4 percent in the month, have been showing more tangible pressure with the year-on-year rate at plus 3.2 percent.
The rise in prices for consumer goods reflect, to a degree, pass through of high energy prices. Import prices for petroleum rose another 7.2 percent in April for a year-on-year rate of plus 37 percent. High food prices are also a factor, up 0.6 percent on the export side for agricultural products for a year-on-year rate of plus 35 percent.
Headline numbers show a 2.2 percent rise for import prices, a severe increase that pushes the year-on-year rate into the double digits at plus 11.1 percent. Export prices rose a heavy 1.1 percent in the month for a year-on-year rate that is nearly in the double digits at plus 9.6 percent. Today's data will likely raise talk of non-core pressure in this week's producer and consumer price reports.
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