A tug boat passes the the CSCL Bohai Sea cargo ship docked at the Port of Oakland in Oakland, California.
David Paul Morris | Bloomberg | Getty Images
U.S. import prices rebounded more than expected in May, which could further diminish fears of deflation as the economy battles a recession.
The Labor Department said on Friday import prices rose 1.0% last month after an unrevised 2.6% drop in April. Economists polled by Reuters had forecast import prices, which exclude tariffs, increasing 0.6% in May.