The U.S. Labor Department released its import and export prices data on Thursday. The U.S. import price index increased by 0.3% in April, missing expectations for a 0.5% rise, after a 0.3% gain in March. March's figure was revised up from a 0.2% increase.

The rise was mainly driven by higher prices for fuel imports, which climbed 3.3% in April.

U.S. export prices climbed by 0.5% in April, after a flat reading in March.