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US import prices rise more quickly than expected in February

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Staff Writer | Friday March 15, 2019 7:28AM ET
US import
America   Import prices increased 0.6% month-on-month in February

Prices of goods purchased overseas rose more quickly than expected at the start of 2019 on the back of more expensive fuel imports.


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According to the US Department of Labor, import prices increased 0.6% month-on-month in February (consensus: 0.3%) following an upwardly revised gain of 0.1% for January.

The preliminary estimate for January had shown a drop of 0.5%.

Fuel import prices climbed by 4.9% versus the previous month, while non-fuel import prices were unchanged.

Nonetheless, versus a year ago the import price index was down by 1.3%, versus where it stood at one year ago, when it was up by 3.3%.

On the export side of the equation, prices rose by 0.6%, breaking three consecutive months of declines, led by a 0.7% rise in those for non-agricultural goods.

Agricultural export prices meanwhile were up by 0.3%.

 

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