US: Import Price Index rises 1.2% in March vs. 1% expected

• US Import Price Index rose more than expected in March.
• US Dollar Index stays relatively quiet below 92.00.

Prices for US imports rose 1.2% in March following an increase of 1.3% in February, the monthly data published by the US Bureau of Labor Statistics revealed on Wednesday. This reading came in higher than the market expectation of 1%. On a yearly basis, the Import Price Index rose 6.9%.

Further details of the publication revealed that the Export Price Index in the same period increased 2.1% and 9.1%, on a monthly and yearly basis, respectively.

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen posting small daily losses at 91.75.