Widget Image
Follow PPD Social Media
Sunday, November 3, 2024
HomeNewsEconomyImport Prices Meet Expectations, Exports Little Changed

Import Prices Meet Expectations, Exports Little Changed

Import-Export-Prices-Cargo-Ship-Reuters
Import-Export-Prices-Cargo-Ship-Reuters

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.

Written by

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.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial