March 2011 U.S. Import and Export Price Indexes — 2011-04-12

U.S. import prices rose 2.7 percent in March, the U.S. Bureau of Labor Statistics reported today, following a 1.4 percent advance in February. The March increase was driven by both higher fuel and nonfuel prices. The price index for U.S. exports increased 1.5 percent in March after rising 1.4 percent the previous month. All Imports: Import prices continued a six-month upward trend in March, rising 2.7 percent. The increase was the largest one-month advance since a similar 2.7 percent rise in June 2009. Prices of imports rose 9.7 percent for the year ended in March, the largest 12-month rise since April 2010. Rising fuel and nonfuel prices each contributed to the increase over the past year. Fuel Imports: The price index for import fuel jumped 9.0 percent in March, the largest monthly rise since a 16.0 percent advance in June 2009.