US import prices stay flat in March

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Added On April 14, 2018

Latest data show that U.S. import prices recorded no change in March, while export prices advanced 0.3 percent.
 
Economy Report has the details.
 
According to a U.S. Bureau of Labor Statistics report released on Thursday, U.S. import prices recorded no change in March following a 0.3percent rise in February and a 0.8-percent increase in January. 
 
The index has not declined on a monthly basis since decreasing 0.2 percent in July 2017. Over the past twelve months, import prices have advanced 3.6 percent. 
 
The price index for fuel imports fell for a second consecutive month, declining 1.6 percent, following a one percent drop in February.
 
Last month's drop was the largest monthly decline since the index fell 3.6 percent in June 2017. 
 
Meanwhile, U.S. export prices increased 0.3 percent after rising 0.2 percent in February. The index hasn't declined on a monthly basis since June last year. 
 
Analysts say, increasing prices for agricultural exports drove last month's advance, more than offsetting lower non-agricultural export prices.
 
The price index for U.S. exports has increased by 3.4 percent since March 2017, while prices for nonagricultural exports advanced 3.4 percent, matching a 12-month increase in February.