U.S. Records Higher Prices of Imports and Exports in March

Import prices in the United States increased by 1.2% during March, signaling another rise in inflation rates, data by the U.S. Department of Labor showed on Wednesday.

This marker the fifth consecutive monthly rise in import prices, which increased by 6.9% on an annual basis, recording its biggest increase since January 2012.

A 6.3% surge in imported fuel prices contributed to last month’s increase.

Core import prices, excluding food and energy, increased by 0.8% in March.

On the other hand, U.S. export prices grew by 9.1% on a yearly basis in March, registering its largest rise since September 2011.