Investing.com – U.S. import prices rose more-than-expected in March, official data showed on Tuesday.
In a report, the U.S. Bureau of Labor Statistics said U.S. import prices rose by 2.7% in March, after rising by 1.4% in February.
Analysts had expected U.S. import prices to rise by 2.2% in March.
The report said that year-on-year, U.S. import prices rose significantly more-than-expected, increasing by 9.7% in March, after rising by 6.9% in February, surpassing expectations for a 8.6% increase.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 0.41% to hit 1.4494.
Meanwhile, the outlook for U.S. equity markets was downbeat. The Dow Jones Industrial Average futures indicated a drop of 0.5%, S&P 500 futures pointed to a decline of 0.61% and Nasdaq 100 futures decreased 0.64%.
In a report, the U.S. Bureau of Labor Statistics said U.S. import prices rose by 2.7% in March, after rising by 1.4% in February.
Analysts had expected U.S. import prices to rise by 2.2% in March.
The report said that year-on-year, U.S. import prices rose significantly more-than-expected, increasing by 9.7% in March, after rising by 6.9% in February, surpassing expectations for a 8.6% increase.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 0.41% to hit 1.4494.
Meanwhile, the outlook for U.S. equity markets was downbeat. The Dow Jones Industrial Average futures indicated a drop of 0.5%, S&P 500 futures pointed to a decline of 0.61% and Nasdaq 100 futures decreased 0.64%.