Import Prices Fall 0.5% in March
The price of goods imported to the United States fell 0.5% in March, led by a decline in petroleum costs, the Labor Department said Thursday.
The downturn followed a revised 0.6% increase in February that was about half the gain originally reported.
The March decline matched economists’ forecasts, Bloomberg News reported.
Imported oil costs fell 1.9%, following a 5.2% jump in February. Prices excluding petroleum fell 0.2%.
U.S. export prices fell 0.4%, following a 0.7% increase in February, Labor said.
