WASHINGTON (dpa-AFX) - Import prices in the U.S. grew by much less than expected in the month of March, according to a report released by the Labor Department on Wednesday.
The Labor Department said import prices climbed by 0.8 percent in March after increasing by a downwardly revised 0.9 percent in February.
Economists had expected import prices to surge by 2.0 percent compared to the 1.3 percent jump originally reported for the previous month.
Meanwhile, the report said export prices shot up by 1.6 percent in March after surging by an upwardly revised 1.9 percent in February.
Economists had expected export prices to jump by 1.5 percent, matching the increase originally reported for the previous month.
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