US Import prices slide in March

U.S. import prices fell 0.5 percent in March following a 0.6 percent climb in February, the Labor Department's Bureau of Labor Statistics said Thursday. Import prices for February were revised from a previously reported 1.1 percent climb. The data for March are in line with expectations. Fuel import prices fell 1.9 percent in last month after a climb of 2.8 percent in February and 1.8 percent in January, both revised figures. Fuel prices have dropped in three of the past five months and in seven of the past 12 months. From March 2012 to March 2013, fuel prices have dropped 9.1 percent, the report said. Prices for non-fuel imports were down 0.2 percent in March. Non-fuel prices have also dropped in three of the past five months and in seven of the past 12. For exports, prices fell 0.4 percent in March with agricultural export prices off 1.8 percent and non-agricultural export prices down 0.2 percent.