U.S. import prices increased by the most in nine months in February, but the tre...
WASHINGTON, - U.S. import prices increased by the most in nine months in February, but the trend remained weak, with prices declining for a third straight month on an annual basis.
The Labor Department said on Thursday import prices rose 0.6 percent last month, the biggest gain since May, boosted by increases in the costs of fuels and consumer goods. Data for January was revised higher to show import prices edging up 0.1 percent instead of falling 0.5 percent as previously reported.In the 12 months through February, import prices fell 1.3 percent. That followed a 1.6 percent decline in January.
The U.S. central bank has pledged to be “patient” before tightening monetary policy further this year. The Fed increased rates four times last year Food prices fell 0.8 percent in February after decreasing 0.4 percent in the prior month. Excluding fuels and food, import prices rose rebounded 0.2 percent last month after falling 0.3 percent in January.
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