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Import Prices Jump 1.3% in March
The price ods imported to the United States rose 1.3% last month, reflecting higher fuel costs, the Labor Department reported Wednesday.
The increase followed a revised 0.1% dip in February that had originally been reported as a 0.4% gain.
The gain topped economists’ forecasts of a 0.8% increase, Bloomberg reported.
Prices excluding petroleum rose 0.5%, the most in almost a year. Petroleum and refined products jumped 4.3%, the most since April 2011.
Imported food costs rose 1.8%, while automobiles and parts rose 0.3%.
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U.S. export prices rose 0.8%, following a 0.4% gain in February, Labor said.