March 2024 U.S. Import and Export Price Indexes — 2024-04-12

Prices for U.S. imports advanced 0.4 percent in March following a 0.3-percent rise the previous month, the U.S. Bureau of Labor Statistics reported today. Higher prices for fuel and nonfuel imports contributed to the overall increase. U.S. export prices rose 0.3 percent in March, after advancing 0.7 percent in February. U.S. import prices increased for the third consecutive month in March, advancing 1.4 percent over the first quarter of 2024. The quarterly increase was the largest 3-month rise since the index rose 3.9 percent from February to May 2022. Prices for U.S. imports advanced 0.4 percent for the year ended in March, the first 12-month increase since January 2023. (See table 1.) Fuel Imports: The price index for import fuel rose 4.7 percent in March, after increasing 1.3 percent the previous month. The March advance was the largest 1-month rise since the index increased 6.4 percent in September 2023.