MW: May import prices surprisingly rise, gain 0.2%
By Steve Goldstein
WASHINGTON (MarketWatch) -- Import prices rose 0.2% in May, a surprise increase but the smallest gain of the year, the Labor Department reported Friday. Economists polled by MarketWatch were looking for a 0.6% drop. Import prices had gained at least 1% each month since October and had not declined since June 2010. Higher industrial supplies and materials and finished goods prices offset a 0.2% dip for fuel, which was the first monthly decline since Sept. 2010. Prices for overall imports advanced 12.5% over the past year, the largest 12-month month increase since Sept. 2008.
