Import Prices Up 0.7%; Export Prices Up 0.7%

In March, import prices rose 0.7%, following a decrease of 0.2% in February. The increase was entirely due on net to increased petroleum prices. Import prices not including oil, fell 0.2% over the month. From a year prior, petroleum import prices were up 70.2%, while total import prices were up 11.4%. Excluding energy products, prices were up by a lesser 2.7% on a year-ago basis; however this is still a significant acceleration from a negative year-over-year change as recently as last October.

Export prices rose 0.7% over the month. From a year prior, export prices were up 4.6%.