Washington, Apr. 16 (BNA): US import prices recorded an unexpected decline in March, driven by lower energy product costs, according to data released by the Bureau of Labor Statistics.

Import prices slipped by 0.1% in March following a downwardly revised 0.2% increase in February. Economists had forecast prices to remain unchanged.

On an annual basis, import prices rose by 0.9% in the 12 months through March, Reuters reported.

The report noted that further price increases are possible due to recent movements in the value of the US dollar, which has weakened against the currencies of key trading partners. The trade-weighted dollar has declined by approximately 2.6% so far this year, with much of the depreciation occurring in March and early April.

ZH