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U.S. import prices cooled in April after a sharp gain in the prior three months, the Labor Department said Friday.
Prices from overseas goods were unchanged after increasing 2.9% in March.
Economists polled by the Wall Street Journal had expected a 0.6% gain in import prices in April.
Over the past year, the price index for imports has risen 12%, down from a 13% rate in March.
Import fuel prices fell 2.4% in April after surging 39.2% from December until March.
Import prices excluding fuels rose 0.4% in April after a 1.2% gain in the prior month. Export prices rose 0.6% in April and are up 18% over the past year.
Stocks
DJIA,
were set to open higher Friday after struggling all week on inflation fears.
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