WASHINGTON – Import prices rose 2.7% in March, the largest gain since a 2.7% jump in June 2009, while export prices increased 1.5%, the Labor Department reported Tuesday.
Processing Content
The increase, due to higher fuel and nonfuel prices, was higher than the 2.2% increase projected by economists that was reported by Thomson Reuters.
Nonfuel imports rose 0.6% for the month and increased 4.2% over the past 12 months, the largest 12-month gain since a 4.8% advance in October 2008.
Fuel import prices soared 9.0% for the month, the largest monthly increase since June 2009 when they were up 16.0%.
Import prices for February showed an unrevised 1.4% gain.
