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                                    U.S. IMPORT AND EXPORT PRICE INDEXES
                                               - MARCH 2008 -

   The U.S. Import Price Index increased 2.8 percent in March, the Bureau of Labor Statistics of the 
U.S. Department of Labor reported today, as higher prices for both petroleum and nonpetroleum imports 
contributed to the advance.  The rise followed 0.2 percent and 1.5 percent increases in February and 
January.  Export prices rose 1.5 percent in March, after advancing 1.1 percent and 1.2 percent for the 
prior two months.

                             Percent changes in import and export price indexes
                                            by End Use category
                                        - not seasonally adjusted -
 

Import Goods
   
   The price index for overall imports rose 2.8 percent in March, led by a 9.1 percent advance in 
petroleum prices.  Petroleum prices resumed an upward trend following a 1.9 percent downturn in 
February.  Prices for petroleum rose 60.0 percent for the year ended in March following a comparatively 
modest 3.1 percent rise over the previous 12-month period.  A 1.1 percent increase in nonpetroleum 
prices also contributed to the overall rise and was the largest one-month increase for the index since 
nonpetroleum prices were first published on a monthly basis in December 1988.  The price indexes for 
overall imports and nonpetroleum imports also advanced for the March 2007-08 period, increasing 14.8 
percent and 5.4 percent, respectively.            
   
   The largest contributor to the March increase in nonpetroleum prices was a 3.6 percent advance 
in the price index for nonpetroleum industrial supplies and materials.  That rise was mostly driven by a 
jump in unfinished metals prices, although higher prices for natural gas, finished metals, and chemicals 
also factored into the advance.  Nonpetroleum industrial supplies and materials prices rose 14.7 percent 
over the past 12 months.        

   Prices for consumer goods; foods, feeds, and beverages; and automotive vehicles were all up in 
March as well.  Consumer goods prices increased 0.5 percent following 0.4 percent and 0.5 percent 
increases in February and January.  Foods, feeds, and beverages prices rose 2.5 percent, led by higher 
prices for food oils, fish, and coffee.  The price index for automotive vehicles advanced 0.2 percent in 
March after ticking up 0.1 percent the previous month.   
   
   Capital goods prices were unchanged in March as declining computer prices offset price 
increases for the remainder of capital goods.  
 

Export Goods 

   Export prices advanced 1.5 percent in March, the largest one-month increase for the index since 
overall export prices were first published monthly in December 1988.  The index advanced 7.9 percent 
over the past year, the largest 12-month advance since an 8.7 percent increase for the September 1987-88 
period.  Both the monthly and annual increases were driven by higher agricultural prices, up 4.1 percent 
in March and 33.4 percent over the past 12 months.  Soybeans and corn prices were the largest 
contributors to the March increase, rising 9.6 percent and 7.9 percent, respectively.  In contrast, the 
increase over the past year was led by a 145.2 percent jump in wheat prices.  Nonagricultural prices 
advanced 1.2 percent in March which was also the largest monthly rise since October 1990.  The index 
increased 5.6 percent over the past year.      
   
   Nonagricultural industrial supplies and materials prices rose 3.7 percent in March, as prices for 
fuels, metals, and chemicals all recorded increases.  The price indexes for export consumer goods and 
automotive vehicles also advanced in March, each rising 0.2 percent for the month.  Both followed 
similar increases in February when consumer goods prices rose 0.2 percent and prices for automotive 
vehicles advanced 0.1 percent.    
   
   Prices for capital goods were unchanged in March after rising 1.0 percent over the previous three 
months. Capital goods prices excluding computers advanced 0.2 percent in March, but a 1.0 percent drop 
in computer prices offset those gains.  


Imports by Locality of Origin 
	
   The price indexes for imports from Canada, the European Union, and Mexico all increased in 
March, led by higher fuel prices.  Prices for imports from Canada rose 3.2 percent for the month and 
16.4 percent for the year ended in March.  Import prices from the European Union advanced 1.6 percent 
in March and were up 6.9 percent over the past year.  The price index for imports from Mexico resumed 
an upward trend in March, increasing 2.2 percent following a 1.8 percent downturn in February.  The 
index advanced 17.2 percent over the past 12 months.  
   
   Import prices from China also increased in March, rising 0.7 percent after a 0.1 percent gain the 
previous month.  The index had been up 0.9 percent in January.  Prices for imports from China rose 4.0 
percent for the March 2007-08 period, the largest 12-month increase recorded since the index was first 
published in December 2003. 
    
   The price index for imports from Japan ticked up 0.1 percent in March and advanced 0.7 percent 
over the past year.
   
   
Import and Export Services

   Import air passenger fares rose 0.2 percent in March after declining in each of the prior two 
months.  A 1.2 percent increase in fares from the Latin America-Caribbean region was the largest 
contributor to the overall increase, although prices also rose for European and Asian fares.  The price 
index for overall fares increased 6.8 percent for the year ended in March.  Export air passenger fares 
advanced 5.0 percent in March following a 5.6 percent decrease in February.  The index rose 14.4 
percent over the past year.  Both the March and the annual increases were led by higher Asian fares.  
	
   The price index for import air freight advanced 1.1 percent in March, driven by a 1.7 percent 
increase in Asian air freight prices.  Import air freight prices increased 10.3 percent for the year ended in 
March.  Export air freight prices rose 0.3 percent in March after falling 0.3 percent the previous month.  
The index advanced 12.8 percent over the past year.  


CONTENTS OF RELEASE

This news release includes the following tables:

Table 1    U.S. Import Price Indexes, by End Use
Table 2    U.S. Export Price Indexes, by End Use
Table 3    U.S. Import Price Indexes, by NAICS
Table 4    U.S. Export Price Indexes, by NAICS
Table 5    U.S. Import Price Indexes, by Harmonized System
Table 6    U.S. Export Price Indexes, by Harmonized System
Table 7    U.S. Import Price Indexes, by Locality of Origin
Table 8    U.S. International Price Indexes for Selected Transportation Services
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Import and Export Price Index data for April are scheduled for release on May 13 at 
8:30 A.M. (EDT)