U.S. import prices declined 0.3% in February, the first drop in seven months, as fuel prices fell, the Labor Department reported yesterday.
Import prices excluding petroleum rose 0.2%, while all non-fuel imports also rose 0.2%. Imports excluding fuel have risen for seven consecutive months. Export prices declined 0.5%, the first decline since September, and increased 3.1% year-over-year.
Economists expected import prices to decline 0.2% for the month, according to the median estimate from Thomson Reuters.
