U.S. import price growth came in well below expectations in March, according to data released Wednesday by the Labor Department.
Import prices rose 0.8% during the month, following a revised 0.9% increase in February.
Economists had anticipated a much sharper rise of 2.0%, compared with the initially reported 1.3% gain for the previous month.
On the export side, prices increased more strongly, climbing 1.6% in March after a revised 1.9% jump in February.
That reading was slightly above expectations, as economists had forecast a 1.5% increase, in line with the originally reported February figure.