U.S. import prices rose in March by the most in nearly a year on sharply higher petroleum costs, but prices outside food and energy climbed more modestly.
Overall import prices rose 1.3%, the U.S. Labor Department said on Wednesday, the biggest gain since April 2011.
Economists polled by Reuters had expected import prices to rise 0.8% last month. February's data was revised to show a 0.1% decline instead of the previously reported 0.4% increase.
Stripping out petroleum, import prices increased 0.3% after falling 0.1% in February.
Higher costs for energy have fueled inflation in recent months but a still-weak jobs market has made it harder for businesses to raise other prices.
A report last week showing slower job growth in March has fueled speculation the U.S. Federal Reserve could ease monetary policy further. Most major Wall Street firms expect the Fed to launch a third round of bond buying, a Reuters poll found on Monday.
Data on Thursday is expected to show tame price pressures at a wholesale level, with producer prices seen rising 0.2% in March when stripping out food and energy.
But Wednesday's report underscores the size of the price shock that is stinging Americans when they refuel their cars.
Last month, imported petroleum prices increased 4.3%, the biggest gain since April 2011.
Elsewhere, imported capital goods prices edged 0.2% higher after being flat in February. Imported motor vehicle prices climbed 0.3% after being unchanged in February.
The U.S. Labor Department report also showed export prices rose 0.8% last month, above analysts' expectations for a 0.4% gain. Export prices increased 0.4% in February.
