(MENAFN) Official data showed that US import prices fell in March as rising petroleum costs were offset by declining prices for other goods, a sign of muted inflation, Oman Observer reported.
The Labor Department said that import prices dropped 0.3 percent last month after a downwardly revised 0.2 percent gain in February. Economists forecast import prices slipping 0.3 percent.
In March, imported petroleum prices rose 0.8 percent after jumping 5.2 percent in February. Import prices excluding petroleum fell 0.4 percent in March. They had dropped 0.3 percent in February.
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