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U.S. import, export prices down in March

By Xinhua , 2020-04-16 04:45:20

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U.S. import and export prices both fell in March, the U.S. Department of Labor reported on Tuesday.

The price index for U.S. imports declined 2.3 percent in March, the largest monthly drop since import prices fell 3.2 percent in January 2015. The prices for U.S. imports from China ticked up 0.1 percent in March.

Import prices also fell on a 12-month basis, declining 4.1 percent from March 2019 to March 2020. The decrease was the largest over-the-year drop since the index fell 4.7 percent for the 12 months ending June 2016.

Meanwhile, prices for U.S. exports declined 1.6 percent in March, after falling 1.1 percent in February and rising 0.6 percent in January. The March decrease was the largest monthly drop in export prices since the index declined 1.7 percent in January 2015.

Prices for exports to China declined 2.3 percent in March following a 0.7-percent drop in February. The March decrease was the largest one-month drop since the index was first published in December 2017. Export prices to China fell 4.7 percent over the past 12 months.

U.S. export prices fell 3.6 percent for the year ending in March, the largest 12-month decrease since a 4.5-percent decline from May 2015 to May 2016.

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