With prices for both petroleum and non-petroleum imports declining in March, the U.S. Labor Department's U.S. import price index fell four-tenths of a percentage point in March. It was the second consecutive monthly decline.
However, the department noted that while petroleum prices have declined in five of the last six months, for the 12 months ending in March petroleum prices have risen 22.6%.
On the other side of the trade ledger, U.S. export prices rose two-tenths of a percentage point in March, twice the rate in February.
