US import prices suppressed by strong dollar
By Alexander Bueso
Date: Friday 12 Apr 2019
(Sharecast News) - Import prices in the US jumped for a second month in March, on the back of another large increase in fuel import costs.
According to the Department of Labor, import prices rose by 0.6% month-on-month as fuel import costs climbed by 7.3%, following increases of 9.7% and 4.4% in February and January. respectively.
Yet on a year-on-year basis, import prices were flat, supressed by the strength of the US dollar.
Export prices were also higher month-on-month, rising by 0.7% versus February, with those for agricultural exports up by 0.9% and those for non-agricultural goods rising by 0.7%.
Non-fuel import prices meanwhile dipped by 0.2% month-on-month.
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