US import prices fall first time in 6 months

US import prices unexpectedly fell in March - the first time since last September, as lower energy import prices offset higher non-oil import costs.

Import prices dipped 0.1% last month after rising 0.2% in February, the Labor Department's Bureau of Labor Statistics said on Tuesday.

Oil import prices declined 1.5% and 6.7% on a monthly and annual basis, respectively, marking the index's first monthly decline since October 2024.

Natural gas import prices fell by 19.8% in March, the biggest monthly decline since March 2024, while imported natural gas prices rose by 88.5% over the trailing 12 months.

Non-oil import prices rose 0.1% for the second consecutive month in March.

Similarly, US export prices were stable in March after rising 0.5% the previous month.