Notizie economiche
15.03.2024

U.S. import-price index rises in line with expectations in February

The report issued by the Labor Department on Friday showed the U.S. import-price index increased 0.3 per cent m-o-m in February, following an unrevised 0.8 per cent m-o-m jump in January. Economists had forecast import prices to rise 0.3 per cent m-o-m last month.

According to the report, the February gain reflected a 1.8 per cent m-o-m surge in fuel import prices and a 0.2 per cent m-o-m uptick in prices for non-fuel imports.

Over the 12-month period that ended in February, import prices fell 0.8 per cent, driven by a 4.1 per cent tumble in fuel prices and a 0.5 per cent drop in non-fuel prices. This marked the 13th straight annual decline in import prices, but the weakest one since February 2023 (-1.1 per cent).

The report also revealed that the price index for U.S. exports soared 0.8 per cent m-o-m in February, following an upwardly revised 0.9 per cent m-o-m surge (from +0.8 per cent m-o-m) in the previous month. Economists had predicted export prices to advance 0.2 per cent m-o-m in February.

The February jump in the U.S. export-price index was attributable to a 0.8 per cent m-o-m surge in prices for non-agricultural exports and a 0.8 per cent m-o-m soar in prices for agricultural exports.

Over the past 12 months, the price index for exports declined 1.8 per cent, reflecting an 8.9 per cent slump in prices of agricultural exports and a 1.0 per cent m-o-m fall in prices of non-agricultural exports. That was the weakest 12-month drop since February 2023 (-0.8 per cent).

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