WASHINGTON — U.S. February import-export price data indicated the trend continues for higher import prices.
February import prices gained 1.4%; excluding oil prices, they grew 0.6%. The overall index is up 7.0% over the last five months and up at least 1% in each of those months.
But this largely reflects nervousness in the energy markets, and excluding fuel import prices they are posting a far more modest 0.3% rise on the month and a 3.6% increase over the year. That is still the fastest pace since October 2008, a reflection of dollar weakness and advancing U.S. growth.
Export prices were 1.2% higher.