Prices for US imports, exports rise in March

US import and export prices both increased in March, the US Department of Labor reported on Friday.

Prices for US imports advanced 0.6 percent in March and 1.7 percent in the first three months of 2019. The increase for the three months ended in March was the largest three-month rise since the index advanced 1.9 percent between October 2017 and January 2018.

Import fuel prices rose 6.4 percent in March after increasing by 9.7 percent in February and 4.4 percent in January. Petroleum prices rose 4.7 percent in March, continuing the trend of the previous two months, and natural gas prices rose 42.3 percent following a 12.9-percent increase in February.

The price index for nonfuel imports decreased 0.2 percent in March, after rising 0.2 percent in February.

Prices for US exports advanced 0.7 percent in March, following a 0.7-percent increase the previous month.

Prices for nonagricultural and agricultural exports each contributed to the overall advance in March.

The price index for agricultural exports rose 0.9 percent in March following a 0.2-percent advance in February.

Prices for nonagricultural exports grew by 0.7 percent in March, after increasing 0.8 percent in February.

For the year ending in March, the price index for nonagricultural exports increased 1.0 percent.