Import Prices Rise 0.5%

The price of goods imported to the United States rose 0.5% in March for the first increase in eight months, the Labor Department said Thursday.

The increase followed a revised 0.1% decrease in February that was smaller than previously reported.

March prices were forecast to fall 0.9%, Bloomberg reported. Excluding energy, prices fell 0.7% for a third straight month.

U.S. export prices fell 0.6%, following a revised 0.3% drop, Labor said.