Import prices in the U.S. showed a steep drop in the month of March, according to a report released by the Labor Department on Tuesday, while export prices also fell sharply.
The Labor Department said import prices plunged by 2.3 percent in March after falling by a revised 0.7 percent in February. The nosedive reflected the largest monthly drop in import prices since January of 2015.
Economists had expected import prices to tumble by 1.7 percent compared to the 0.5 percent drop 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.