WASHINGTON (Reuters) – U.S. import prices dropped in March, pointing to import deflation that could deepen amid the pandemic.
The Labor Department said on Tuesday import prices dropped 2.3% last month after a downwardly revised 0.7% drop in February. Import prices, which exclude tariffs, were previously reported to have decreased 0.5% in February. Economists polled by Reuters had seen import prices tumbling 3.2% in March.
(Reporting By Lucia Mutikani; Editing by Andrew Heavens)
