Prices of imports into the United States declined in March, helped by lower energy costs, ahead of the new U.S. tariffs.
According to the Bureau of Labor Statistics, import prices fell by 0.1 percent last month, down from the downwardly adjusted 0.2 percent increase in February. This was the first monthly decrease since September.
On a 12-month basis, import prices rose by 0.9 percent.
Import fuel prices fell by 2.3 percent, the largest month-over-month drop since the 7.2 percent drop in September. Falling prices for petroleum and natural gas largely drove this trend.
Non-fuel imports ticked up by 0.1 percent for the second straight month, offset by lower prices for automobiles and consumer goods. The increase was due to higher costs for capital goods, industrial supplies and materials, and foods, feeds, and beverages….