March Import Prices Rise 2.7%

The price of goods imported to the United States rose 2.7% in March, the Labor Department said Tuesday.

The upturn, which followed a 1.4% gain in February, topped economists’ forecasts of a 2.1% increase, Bloomberg reported.

Petroleum prices jumped 10.5%, while prices excluding fuel rose 4.2%.

U.S. export prices rose 1.5% following a revised 1.4% gain in February that had originally been reported as a 1.2% increase, Labor said.