US imports rise sharply in February

The US Labor Department said today that US import prices rose 1.4% in February after rising 1.9% in January, and on an annual basis import prices rose 10.9% in February after rising 10.7% in January, with imported fuel prices rising by 10.9% in February. 6.9%, an 8.1% increase in oil prices, and a 1.5% increase in the cost of importing foodstuffs. Core imports, excluding fuel and food, increased by 0.6% in February compared to 1.1% in January, and on an annual basis, basic import prices rose by 6.5% in February compared to the same period last year. The data showed that US export prices rose 3.0% in February after rising by 2.8% in January, and on an annualized basis export prices rose 16.6% in February after rising by 15.0% in January.