U.S. import prices rose 0.4% in March, primarily due to a 4.7% surge in fuel import prices.

U.S. import prices rose 0.4% in March, surpassing expectations of a 0.3% increase, driven mainly by a surge in fuel import prices. This marked the first year-over-year increase since January 2023, with import prices climbing 0.4% compared to the same month a year ago. The bigger than anticipated monthly increase in import prices was mainly attributed to a 4.7% spike in fuel import prices, which followed a 1.3% rise in February.

April 12, 2024
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