US import prices increased by 0.8% month-over-month in March 2026, following a downwardly revised 0.9% rise in February and missing market forecasts of a 2% surge. Fuel and lubricant prices jumped 2.9%, the largest increase since January 2025, driven by higher petroleum costs that outweighed lower natural gas prices. Nonfuel import prices also climbed 0.6% in March, after a 0.8% rise in February, supported by increases in nonfuel industrial supplies, capital goods, consumer goods (excluding autos), and foods, feeds, and beverages. On an annual basis, US import prices advanced 2.1% in March, marking the strongest year-over-year gain since December 2024.