US import prices surge in March

US import prices surged 0.8% month-over-month in March 2026, marking the second-largest monthly increase since April 2025. Year-over-year, import prices rose 2.1%, the largest annual jump since December 2024. The spike was primarily driven by a 2.9% monthly increase in imported fuel prices, while natural gas prices plummeted by 71.0%. This inflationary pressure on imports adds to economic concerns as the Trump administration continues its foreign policy initiatives.