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U.S. Import Prices Drop 0.5% In February

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U.S. Import Prices Drop 0.5% In February

Primarily reflecting a steep drop in fuel prices, the Labor Department released a report on Friday showing a decrease in U.S. import prices in the month of February.

The Labor Department said import prices fell by 0.5 percent in February after inching up by a revised 0.1 percent in January.

Economists had expected import prices to slump by 0.8 percent compared to the unchanged reading originally reported for the previous month.

The report also showed a substantial decrease in export prices, which tumbled by 1.1 percent in February after climbing by a revised 0.6 percent in January.

Export prices had been expected to inch up by 0.1 percent compared to the 0.5 percent increase originally reported for the previous month.

The material has been provided by InstaForex Company – www.instaforex.com