Import prices down 10.5 percent over the past year
The cost of imported goods fell in March, reflecting in part a stronger dollar that makes foreign goods cheaper, MarketWatch reported. The import price index declined by a seasonally adjusted 0.3 percent last month, higher than the 0.2 percent increase expected by economists surveyed by MarketWatch. Excluding fuel, import prices dropped 0.4 percent, according to a government report. The price of U.S.-made goods exported to other nations edged up 0.1 percent. For the past 12 months, import prices have dropped 10.5 percent, mainly because of sharply lower oil costs. Import prices are down 1.9 percent excluding fuel during the same span. That’s the biggest year-over-year drop since fall 2009.