Import prices rose 1.3 per cent in March, which is the biggest gain since April 2011, according to an Economic News Release by the Bureau of labour Statistics.Petroleum imports are a big driver behind the rising overall price of imports, as they increased 4.3% in March. Fuel imports were up 3.8%, also the highest since April of last year. Nonfuel imports were up 0.5% in comparison.
Export prices also rose 0.8% in March, with agricultural exports rising 2.7% compared to non-agricultural exports which rose 0.5%.
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