US import prices rise for the first time since June 2015

US import price index registered its first rise since June 2015, but stayed in the negative territory in annualized terms.

Import prices rose 0.2% m/m in March compared to 0.3% drop seen in February. In annualized terms prices crashed by another 6.2%. Import prices ex. food and fuels printed at -0.1% after +0.1% in Feb. It amount to 2.3% y/y drop as underlying deflation continued.

Import prices rose from Canada, Mexico and Japan, but fell from the EU and China.