The Labor Department released a report on Friday showing U.S. import prices fell by much more than expected in the month of March.
The report said import prices slid by 0.6 percent in March after slipping by a revised 0.2 percent in February.
Economists had expected import prices to edge down by 0.1 percent, matching the 0.1 percent dip originally reported for the previous month.
Excluding a steep drop in prices for fuel imports, import prices still declined by 0.5 percent in March after climbing by 0.4 percent in February.
The Labor Department said export prices also fell by 0.3 percent in March following a revised 0.4 percent increase in February.
Economists had expected export prices to dip by 0.1 percent compared to the 0.2 percent uptick originally reported for the previous month.
