Please ensure Javascript is enabled for purposes of website accessibility

Expensive Fuel Pushes Import Prices Up 0.9%

By Justin Loiseau – Mar 13, 2014 at 2:32PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Export prices increase 0.6% for February.

Export prices increased as import prices soared for February, according to a Labor Department report (link opens as PDF) released today.

Import prices gained 0.9% month over month for February for the third straight month of increases. Analysts weren't expecting such a jump, having predicted just 0.5% growth. The main reason behind February's rise was fuel. Import fuel prices increased 5.1% as nonfuel import prices fell 0.2%, due primarily to cheaper capital goods and foods.

In the past 12 months, overall import prices are down 1.1%.

Source: Labor Department 

Export prices increased 0.6%, exceeding analyst expectations of 0.2% growth. Agricultural prices jumped 1.7% after a 0.4% dip in January. Prices for nonagricultural exports increased 0.6%, the largest percentage gain since February 2013. Export prices have been on a roll recently, steadily increasing every month since a 0.6% decline last October.

Despite February's increase, export prices are down 1.3% over the last year.

Source: Labor Department 

On a regional basis, import prices from Canada increased 2.3% (primarily due to more expensive fuel), while China imports fell 0.4% in price.

We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.