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Export prices strongest in farm products


Published: March 13, 2008 at 9:40 AM
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WASHINGTON, March 13 (UPI) -- The price of U.S. imports rose 0.2 percent in February, while export prices, pushed by agriculture, rose 0.9 percent, the Labor Department reported Thursday.

Economists had expected import prices to rise by three times as much.

February's import price gain compares with a 1.7 percent gain in January and contributes to a year-on-year increase of 13.6 percent.

On the month, non-petroleum imports increased 0.6 percent, following a 0.7 percent increase in January.

Export price rises, good for U.S. farmers, were 1.2 percent in January with year-on-year prices up 6.8 percent. Export prices for agricultural products gained strongly on the month, up 4.4 percent in February, contributing to a 30.8 percent increase on the year.

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