Import prices rose 1.4 percent in February

WASHINGTON, March 15 (UPI) -- U.S. import prices climbed 1.4 percent in February, pushed by a 4 percent rise in fuel prices, the Department of Labor said Tuesday.

Prices excluding fuel costs rose 0.3 percent in the month.

On the other side of the coin, export prices rose 1.2 percent for all goods and services and rose 0.9 percent with agricultural products excluded. The price gain for agricultural exports by themselves rose 4.4 percent.

In the past five months import prices have risen 7 percent. They have climbed 6.9 percent in the past year ending in February, the largest 12-month gain since the year that ended May 2010, which posted a gain of 8.5 percent, the department said.