US: Import Price Index rises 0.6% in March vs 0.4% expected

The data published by the U.S. Bureau of Labor Statistics today showed that prices for U.S. imports rose 0.6% in March to surpass the analysts' estimate of 0.4%. 

Key takeaways from the press release

• The increase for the 3 months ended in March was the largest 3-month rise since the index advanced 1.9 percent between October 2017 and January 2018.
• The import price index recorded no change over the past 12 months. 
• Both the March and February advances were driven by higher fuel prices.
• Prices for U.S. exports rose 0.7 percent for the second consecutive month in March.
  • Both agricultural and nonagricultural prices contributed to the increase.