US: Flat reading of import prices in March – Nomura

Analysts at Nomura note that US import prices remained flat in March after a 0.3% m-o-m growth in February.

Key Quotes

“The March reading was impacted by a 1.3% decline in prices of petroleum imports. Excluding petroleum, import prices rose a modest 0.1% m-o-m. On a y-o-y basis, import price inflation of nonpetroleum imports held up, coming in at 2.1% y-o-y following the same pace in February. Prices of imported consumer goods excluding autos rose steadily by 0.3% y-o-y. This appears consistent with continued US dollar weakness.”