March 2020 U.S. Import and Export Price Indexes — 2020-04-14

Prices for U.S. imports fell 2.3 percent in March, the U.S. Bureau of Labor Statistics reported today, following a 0.7-percent decline the previous month. The March drop was driven by lower fuel prices. U.S. export prices decreased 1.6 percent in March, after falling 1.1 percent in February. __________________________________________________________________________________________________________ Coronavirus (COVID-19) Impact on March 2020 Import and Export Price Index Survey Data The import and export price quotes are requested for transactions occurring as close to the first day of the month as possible. While not directly related to the COVID-19 pandemic, response rates for March were approximately 6.5 percentage points lower than March 2019. No changes in estimation procedures were necessary. Additional information is available at www.bls.gov/bls/effects-of-covid-19-pandemic-on-bls- price-indexes.htm#Import-Export. __________________________________________________________________________________________________________ The price index for U.S. imports declined 2.3 percent in March, the largest monthly drop since import prices fell 3.2 percent in January 2015.