Economic Buzz: US trade prices continue to rise in March

US import and export prices both increased strongly in March, showing that inflation is still affecting global trade, according to data from the Bureau of Labor Statistics.

US import prices went up by 0.8% in March. This is the third month in a row they have increased, after rising 0.9% in February and 0.6% in January. Over the past year up to March, import prices rose 2.1%, which is the highest yearly increase since December 2024, when prices had gone up 2.2%.

US export prices also rose, increasing by 1.6% in March as both agricultural and non-agricultural goods became more expensive. Over the 12 months ending 31 March, export prices climbed 5.6%, the biggest yearly rise since November 2022, when they had increased 6.1%.

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