US import prices edge past forecasts in March

US import prices edged past forecasts last month even as the cost of imported fuels eased back.

Total import prices dipped by 0.2% month-on-month and were 4.2% ahead in annualised terms, according to the Bureau of Labor Statistics.

Economists had penciled in a decline of 0.2% on the month and a 4.0% advance on the year.

The cost of imported fuels declined by 3.8% in comparison to the month before, while non-fuel import costs advanced by 0.2%.

On the export side of the equation, the government said export prices increased by 0.2% versus February and were 3.6% higher than during the same period one year ago.

Versus February, prices of agricultural goods were up by 0.9% on the month and those of non-agricultural ones by 0.2%.