With prices for fuel imports continuing to skyrocket, the Labor Department released a report on Thursday showing U.S. import prices surged by more than expected in the month of March.
The report showed import prices spiked by 2.6 percent in March after jumping by an upwardly revised 1.6 percent in February.
Economists had expected import prices to shoot up by 2.3 percent compared to the 1.4 percent increase originally reported for the previous month.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.