WASHINGTON (Dow Jones) — US inflation again failed to find support from the import side in March. As the US Department of Labor announced, import prices fell by 0.6 percent compared to the previous month and were 4.6 (February: 1.1) percent below the level of the same month last year. Economists polled by Dow Jones Newswires had forecast a monthly fall in import prices of just 0.1 percent.
The 0.1 percent drop reported for February has been revised down to 0.2 percent. Import prices excluding oil fell by 0.5 percent on a monthly basis in March. Oil import prices fell by 2.9 percent. Export prices fell by 0.3 percent on a monthly basis and were 4.8 (0.8) percent below the previous year’s level.
Contact the author: [email protected]
DJG/DJN/hab/smh
(END) Dow Jones Newswires
April 14, 2023 08:43 ET (12:43 GMT)