Keeping you up to date on the latest data releases.
Import prices increased by 0.9 percent in February after rising 0.4 percent on a monthly basis in January. A main driver of the increase was petroleum prices, which jumped up 4.4 percent in February. Nonpetroleum prices posted a 0.2 percent monthly gain while nonfuel import prices fell −0.2 percent. Surging natural gas prices (up 22.4 percent) contributed to the 0.4 percentage point spread between the nonpetroleum and nonfuel import prices. On a year-over-year basis, import prices fell −1.1 percent, marking the sixth consecutive month of yearly declines. Petroleum prices dropped by −2.6 percent on a yearly basis, after a revised drop of −3.0 in January. Nonpetroleum prices were down as well by −0.6 percent and marked twelve consecutive months of yearly declines. Increases in energy prices contributed to the uptick in February. Nonfuel import prices and yearly figures indicate an extension of the softness seen since the fourth quarter of 2013.
Export prices rose 0.6 percent in February after increasing 0.2 percent in January. On a year-over-year basis, export prices fell −1.3 percent, marking seven months of consecutive declines.