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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.