U.S. Treasury yields rose on Friday as investors considered the state of the economy after digesting the week's economic data.

The yield on the 10-year Treasury was up more than 4 basis points at 4.42%. The 2-year Treasury yield was last at 4.829% after adding nearly basis points.

Yields and prices have an inverted relationship. One basis point equals 0.01%.

Investors weighed the state of the U.S. economy and the path ahead for monetary policy after the latest economic data and comments from Federal Reserve officials.

Data released Thursday showed that import prices soared 0.9%, far higher than the 0.3% Dow Jones estimate, while the latest weekly initial jobless claims figures were broadly in line with expectations.

This comes after several key inflation readings earlier in the week. April's consumer price index came in 0.3% higher from the previous month and rose 3.4% from a year earlier. The monthly figure was just below forecasts, while the annual reading was in line with expectations.

Atlanta Fed President Raphael Bostic on Thursday said he was pleased with the progress on inflation in April, but that the central bank should stay "patient and vigilant" and was "not there yet."

Fed officials in recent weeks have indicated caution when it comes to monetary policy plans, especially regarding interest rate cuts. Policymakers have widely suggested that they were still waiting for more evidence that inflation is easing sustainably, and that this may take some time.

Earlier in the week, the producer price index for April had reflected an increase of 0.5% on a monthly basis, which was above previous expectations.