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Saturday, May 18, 2024
HomeNewsEconomyImport Prices Meet Expectations, Exports Little Changed

Import Prices Meet Expectations, Exports Little Changed


The latest import prices and export prices, including data and reports. (Photo: REUTERS)

The Commerce Department said Thursday import prices in February rose 0.2%, meeting the median economic forecast, but underlying inflation pressures remain. Excluding fuels, import prices rose 0.3% for the largest increase since July.

A sign of inflationary pressure comes from the overall year-on-year rate, which clocked in at 4.6%. That’s the highest level in 5 years since February 2012.

Meanwhile, export prices rose 0.3% in February, matching the top estimate but slightly above the median forecast. Agricultural products fueled the gain largely, rising 1.4%. Still, broader inflation pressure centered on durable goods and price strength for exported capital goods was unexpected. Year-on-year, total export prices rose 8 tenths from January to 3.1%, the highest since December 2011.

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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