Input Stories

U.S. import prices fell 0.1% in March, after increasing 0.2% in February, with higher nonfuel prices offsetting lower fuel prices. This is the first monthly decline since September 2024. Over the past year, import prices rose 0.9%. Meanwhile, U.S. export prices were flat in March, following a 0.5% rise in February. Over the past year, export prices increased 2.4%.

Fuel import prices fell 2.3% in March, after rising 1.6% in February. Lower prices for natural gas and petroleum led to this decline. Prices for fuel imports dropped 5.2% over the past year. Import prices for petroleum decreased 1.5% over the month in March. Meanwhile, natural gas prices plummeted 19.8% in March but jumped 88.5% over the year.

Nonfuel import prices ticked up 0.1% in March, for the second consecutive month. Higher prices for capital goods; nonfuel industrial supplies; and foods, feeds and beverages more than offset lower prices for consumer goods and automotive vehicles in March. The price index for nonfuel imports increased 1.5% over the past year.

After rising 0.6% in February, agricultural export prices were unchanged in March. Over the past 12 months, agricultural export prices increased 1.4%. Meanwhile, nonagricultural export prices edged down 0.1% in March, the first decline since September 2024. Higher prices for consumer goods, capital goods and automotive vehicles were offset by lower prices for nonagricultural industrial supplies and materials and nonagricultural foods. Over the past year, nonagricultural export prices advanced 2.5%.