Import prices up a touch in February

March 14, 2012 at 3:37 PM

WASHINGTON, March 14 (UPI) -- U.S. import prices rose 0.4 percent in February following a 0.3 percent downturn in the previous month, the Department of Labor said Wednesday.

The increase was pushed by a 0.25 percent increase in prices for fuel, which were flat in the previous month and down 0.5 percent in December.

On a 12-month basis, fuel prices rose 15.2 percent in February. Petroleum prices as a category are up 18.4 percent the past 12 months.

Import prices excluding fuel were off 0.1 percent in February, canceling out the 0.1 percent gain in January.

Imported food prices in the same period fell 3 percent in February.

Export prices for February for all items also rose 0.4 percent with higher prices for non-agriculture prices offsetting a 0.9 percent drop in the price of agricultural goods.

Export prices for fruits, cotton and vegetables fell 6.8 percent, 7.1 percent and 6.5 percent, respectively, in the month. Prices for corn and soybeans, fell 0.2 percent and rose 0.4 percent, respectively, the department said.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Google apologizes for photo app that tagged black couple as 'gorillas'
Lockheed Martin spotlights new tracking pod system
Greek default leaves bruise on oil markets
Kuwait orders NBC reconnaissance vehicles
Netherlands orders Bushmaster armored vehicles