U.S. Import Prices Jump Much More Than Expected In February

(RTTNews) - Partly reflecting a significant rebound in prices for fuel imports, the Labor Department released a report on Wednesday showing U.S. import prices increased by much more than expected in the month of February.

The Labor Department said import prices jumped by 1.3 percent in February after climbing by an upwardly revised 0.6 percent in January.

Economists had expected import prices to rise by 0.5 percent compared to the 0.2 percent uptick originally reported for the previous month.

The report said export prices also surged by 1.5 percent in February following an unrevised 0.6 percent increase in January. Export prices were expected to grow by 0.5 percent.