U.S. March import prices were flat with export prices 0.3% higher
U.S. March import prices were flat with export prices 0.3% higher. For February revisions, the 0.4% rise in import prices was bumped down to 0.3%, with no change to the 0.2% export price gain. As for the 12-month pace, import prices accelerated to 3.6% y/y versus 3.4% y/y (revised from 3.5% y/y), with export prices at 3.4% y/y from 3.2% y/y (revised from 3.3% y/y). For import prices, petroleum declined further, slipping 1.3% from -0.8% previously (revised from -0.5%). Import prices excluding petroleum edged up 0.1% versus 0.4% (revised from 0.5%). With the exception of food prices (0.6%) and capital goods (0.1%), small declines were seen across the remaining components. Import prices with China were 0.1% higher from 0.2%, and with Canada were -0.1% from 0.2%. For exports, agricultural prices climbed 3.4% from 0.6% previously (revised from 0.6%). Export prices excluding ag were down 0.1% from 0.2%. Foods/beverage export prices rose 3.3%.