US import prices rose +0.8% MoM in March, the 2nd-largest monthly increase since April 2025.
US import prices rose +0.8% MoM in March, the 2nd-largest monthly increase since April 2025.
YoY, import prices surged +2.1%, the largest annual increase since December 2024.
This comes as imported fuel prices rose +2.9% MoM, while natural gas prices dropped -71.0% MoM, dragging down the headline figure.
Excluding food and fuel, core import prices gained +0.6% MoM and +3.5% YoY.
Furthermore, the average crude oil price arriving in the US in March jumped +7.8% MoM, compared to a Brent spot price surge of +45.5% over the same period.
This suggests most of the oil price shock has yet to filter through to import prices.
Meanwhile, export prices surged +5.6% YoY last month, the highest since November 2022.
Inflationary pressures are mounting.
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