US import prices rose for the fifth month in a row

The US Labor Department said today that US import prices rose by 1.2% in March after rising 1.3% in February to achieve gains for the fifth month in a row. Analysts had expected import prices to rise to 1.0% in March. On an annual basis, US import prices rose to 6.9% in the twelve months to March, the highest level since January 2012, after rising by 3.1% in February, and the prices of basic imports excluding fuel and food rose by 0.8% in March compared to 0.3% in February. . The data showed that US export prices rose by 2.1% in March after rising by 1.6% in February, and on an annual basis, export prices rose by 9.1% in the 12 months to March, the largest increase since September 2011.