U.S. import prices increased in April for the first time since late 2022 amid higher fuel costs, but imported inflation pressures remained subdued.

Import prices rose 0.4% last month after dropping 0.8% in March, the Labor Department said on Friday. Last month's increase was the first since December 2022.

Economists polled by Reuters had forecast import prices, which exclude tariffs, rebounding 0.3%. In the 12 months through April, import prices fell 4.8% after a similar decline in March.