FXstreet.com (Barcelona) - US Import prices have continued growing in may for its third consecutive month, pushed by both petroleum and non-petroleum prices, according to data released by the US Department of Labor.
Prices of imported products have increased 2.3% in May, after a 2.4% rise in April and 3.0% in March. From February to may, import prices have increased 7.9%, the highest three month jump since October 1990. In the last 12 months, import prices have risen 17.8, the largest yearly increase since records are taken.
Petroleum prices continue to add to overall import prices, in May petroleum prices rose 7.8% from April, and 68.8% on the year, the highest year on year increase since the 82.5% in February 2003.