|
The Labor Department said on Thursday import
prices gained 0.4 percent after a revised 3.1 percent plunge in
January.
Economists polled by Reuters had forecast import prices rising
0.2 percent after a previously reported 2.8 percent decline in
January.
In the 12 months through February prices fell 9.4 percent.
Between June and January, crude prices fell 60 percent on fears
of a global oil glut and the refusal of Saudi Arabia and other
OPEC members to cut output. Last month, Brent stabilized
at around $60 and U.S. crude at around $50.
Last month, imported petroleum prices rose 8.1 percent after
tumbling 20.6 percent in January. Imported food prices dipped
0.2 percent after sliding 1.6 percent in January.
Import prices excluding petroleum fell 0.4 percent in February
after January's 0.6 percent drop.
That reflects the dollar's strength against the currencies of
the country's main trading partners, which is contributing to
keeping inflation below the Federal Reserve's 2 percent target.
The Labor Department report also showed export prices dipped 0.1
percent in February after falling 1.9 percent in January.
Export prices dropped 5.9 percent in the 12 months through
February.
(Reporting By Lucia Mutikani; Editing by Andrea Ricci)
[© 2015 Thomson Reuters. All rights
reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
