U.S. import prices rose by much more than expected in March in a reminder of inflationary risks that could test the patience of the U.S. Federal Reserve.
Powered by a jump in fuel prices, the cost of goods imported into the United States rose 0.9 percent, the sixth straight gain, following a 0.4-percent advance in February, according to the U.S. Department of Labor.
The rise in March 2004 was nearly double Wall Street, the U.S. center of financial activity, forecasts for a 0.5-percent advance.
Taken on their own, economists said the numbers were not a red alert for inflation because only around 11 percent of U.S. goods prices are imports. (Reuters)
to Daily News