Import Prices Jump, Boosting Inflation. Back to That '70s Show

More great news on the inflation front that the Fed will no doubt immediately rationalize away. From The WSJ:

Import prices surged in March, lifted by not only oil but also the biggest jump in nonpetroleum costs on record, a worrisome sign for inflation.

Overall import prices rose 2.8% last month, after increasing an unrevised 0.2% in February, the labour Department said Friday. …

During the 12 months since March 2007, prices increased 15%. …

Excluding petroleum, all other import prices rose 1.1% in March, after increasing 0.7% in February. Prices excluding petroleum increased 5.4% in the 12 months since March 2007, nearly double the 2.8% climb between March 2006 and March 2007.



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