WASHINGTON — U.S. import prices were flat in March following gains in the previous seven months, as energy price declines were offset by gains in other categories.
Overall fuel prices fell by 1.6%, with petroleum prices down 1.3% and natural gas prices down 9.5%.
Import prices were up 0.1% excluding petroleum and were up 0.2% excluding all fuels. There were gains in March for industrial supplies excluding fuels, capital goods, and foods, feeds and beverages. These were partially offset by declines in prices of autos and consumer goods.
Overall import prices were up 3.6% year/year, while prices excluding fuels were up 2.1% year/year and prices excluding petroleum were up 2.1% year/year. These gains suggest some inflation pressures from imports and are well above the year/year rates posted last summer before the string of monthly gains. However, they are generally in line with the 12-month gains in recent months.
Import prices were up from France, the UK, Mexico, China, and Japan, but declined from Canada and Germany.
Total export prices rose 0.3% in March as agricultural export prices jumped by 3.4%. Export prices excluding agriculture saw a 0.1% decrease. Export prices were up 3.4% from a year earlier, both including and excluding agriculture.
