Import prices fall in-line with expectations

Import prices fell less than expected in March.

Over the prior month, import prices fell 0.3% against expectations for a 0.4% decline.

Over last year, import prices were down 10.5%, more than the 10.2% decline that was expected.

This is the largest 12-month decline in prices since the 12% drop in prices seen in September 2009.

Import prices have been tamped down by the strength of the US dollar and the decline in oil prices.

In March, fuel imports were down 45.2% over the prior year (though fuel imports were up slightly compared with the prior month).

More to come...