US import price index edges past forecasts in March

The cost in the U.S. of goods purchased overseas rose by a tad more than expected last month.

According to the U.S. Department of Labor, in seasonally adjusted terms, the country's import price index increased at a month-on-month pace of 0.4% (consensus: 0.3%).

Fuel imports accounted for nearly the entire gain, jumping by 4.7%, while non-food import costs edged up by only 0.1%.

Export prices meanwhile were up by 0.3% on the month, despite a 0.7% fall in those of agricultural goods.

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