The U.S. import price index was up 0.2% in February, according to data released by the Bureau of Labor Statistics yesterday.

IFR Markets had predicted a 0.6% increase for the imports index, which followed a downwardly revised 1.6% increase in import prices in January, originally reported as a 1.7% rise.

Meanwhile, export prices rose 0.9% after a 1.2% increase in January.

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