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.

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.

Producer Price Index, a measure of wholesale costs, fell 0.5% in April. Margins are squeezed by tariffs and firms will likely pass costs to consumers