U.S. import prices unexpectedly rose in April as a surge in the cost of capital goods offset cheaper energy products. Import prices gained 0.1% last month after dropping 0.4% in March, the Labor Department's Bureau of Labor Statistics said on Friday.

The Producer Price Index unexpectedly fell 0.5% M/M in April, compared with the +0.2% expected and 0.0% in March (revised from -0.4%), according to data released by the Bureau of Labor Statistics on Thursday. That translates to a Y/Y gain of 2.4%, as compared to the consensus of +2.5% and +3.4% prior (revised from +2.7%).

Prices paid to US producers unexpectedly declined in April by the most in five years, largely reflecting a slump in margins, suggesting companies are absorbing some of the hit from higher tariffs.