Import Prices U.S. Up 2.7% In March

Import Prices U.S. Up 2.7% In March



Prices for imports to the U.S. jumped 2.7% in March, the largest monthly increase in almost two years, and fuel costs have now risen 36.6% over the past six months.

Excluding fuel, import prices rose 0.6% in March, driven by the largest increase in food, feed and beverage costs in 17 years.

Import prices have climbed 9.7% over the past year, nearly identical to the 9.5% increase in export prices over that time frame. For the month of March, export prices rose 1.5%.

Non-fuel import prices have risen 4.2% over the last 12 months, the largest year-over-year increase since October of 2008.

Economists had expected import prices to increase 2% for the month.

The cost of imports of one of several main inflation gauges, and the report may fuel growing concerns about the recent uptick in inflation.