Import prices up again in March 2005

April 18, 2005

Import prices rose 1.8 percent in March, following increases of 0.8 percent and 0.6 percent the two previous months. The March rise was the largest monthly advance since January 2003.

[Chart data—TXT]

For March, higher petroleum prices again led the overall increase in import prices, rising 10.6 percent for the month. The price index for petroleum increased 4.6 percent and 2.3 percent in February and January, respectively, and rose 36.1 percent over the past 12 months.

Nonpetroleum prices also rose in March, increasing 0.3 percent. Prices of nonpetroleum imports were up 2.9 percent for the year ended in March. Overall import prices increased 7.1 percent over the same period.

Export prices rose 0.7 percent in March with both agricultural prices and nonagricultural prices contributing to the increase.

These data are from the BLS International Price program. Import and export price data are subject to revision. Learn more in U.S. Import and Export Price Indexes - March 2005 (PDF) (TXT), news release USDL 05-624.