US import prices fall 10.5% YoY in March

April 11, 2015 2:00 PM

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NEW YORK: US import prices fell in March, as a stronger dollar made foreign goods cheaper to US companies. The import price index fell by a seasonally adjusted 0.3% last month against consensus forecast of a 0.4% decline.

The index was down 10.5% year-on-year, a decline largely driven by prices for petroleum and petroleum product plummeting 45.1% from the previous year.

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