U.S. import and export prices surged in April by the most in four years on oil-market pressures tied to the Iran conflict. This adds further evidence of higher inflation on top of this week’s April consumer price index and producer price index figures.
The import price index rose 1.9% MoM, the biggest increase since March 2022.
Export prices rose 3.3% from the prior month, also the most in more than four years.
And when we strip out petroleum, import prices rose 0.7% month-over-month in April, pointing to other factors than energy driving inflation pressures.
Other factors like tariffs and supply chain issues perhaps?
With 30 years of cross-industry experience, Chris Versace brings his thematic investing lens to TheStreet Pro Portfolio (formerly Action Alerts PLUS) each day as lead portfolio manager. His daily insights, analysis, and recommendations provide the foundation for TheStreet's Pro Portfolio.
Versace began his career in equity research before founding Versace Management in 2005. He joined TheStreet team in 2011 as a Real Money contributor before becoming portfolio manager of Action Alerts PLUS in 2021. He holds an MBA from Fordham Gabelli School of Business and has co-authored a book called “Cocktail Investing - Distilling Everyday Noise into Clear Investing Signals for Better Returns.”
With a passion for teaching others about investing, Versace spent 9 years as an Assistant Professor of Finance at NJCU School of Business. When he’s not contributing to TheStreet’s premium services, he can be found speaking at industry conferences or at a Bruce Springsteen concert (he’s seen him 50 times and counting!).
