WASHINGTON, April 15 (Reuters) – U.S. monthly import prices increased less than expected in March, though details still pointed to firming imported inflationary pressures amid the Middle East conflict.
Import prices rose 0.8% last month after a downwardly revised 0.9% gain in February, the Labor Department’s Bureau of Labor Statistics said on Wednesday. Economists polled by Reuters had forecast import prices, which exclude tariffs, increasing 2.0% after a previously reported 1.3% rise in February.
In the 12 months through March, import prices shot up 2.1%. That was the largest year-on-year rise since December 2024, and followed a 1.0% increase in February.
Imported fuel prices rose 2.9% last month after advancing 2.4% in February. Oil prices have jumped more than 35% since the U.S.-Israeli war with Iran started at the end of February. Higher oil prices raised consumer and producer prices in March, government data showed recently.
Imported food prices gained 0.5%. Excluding food and energy, import prices increased 0.6% after rising 0.9% in February. There were solid increases in the prices of imported capital goods as well as consumer goods excluding automobiles.
(Reporting by Lucia Mutikani. Editing by Chizu Nomiyama and Mark Potter)
