ECONOMY

U.S. Import Prices Rose in April: Prices U.S. businesses paid for imported goods rose 0.9% as energy costs soared, Labor Department data showed. Petroleum import prices alone climbed 8.1%, as refiners cut production in anticipation of the return of Iraqi oil to world markets. Excluding petroleum, April import prices inched up 0.1%. Prices paid for imported autos and parts advanced 0.1% in April, while prices for imported consumer goods remained unchanged. In March, total import prices rose a revised 0.6%, up from the 0.5% previously reported by the government. The Labor Department also said prices for U.S. products exported to other countries rose 0.5% in April after declining 0.1% in March.