Import Prices Rise 0.8% in February

Click here to write a Letter to the Editor.

he Labor Department said Friday that prices of goods imported into the United States rose 0.8% in February, following a revised 0.7% jump the month before.

Economists forecast a 0.6% rise in the index, Bloomberg reported. Labor also said that excluding petroleum, prices rose 0.2%.

Higher prices for imports can hurt truckers who carry goods inland from ports to stores and warehouses.

Imported petroleum increased 3.9% in price last month, the biggest gain since October, Labor said. Food prices rose 1.3%, the biggest increase since September.

The costs of all imported goods last month was 6.1% greater than in February 2004, Labor said.

The report also said prices of U.S. products exported to other countries were unchanged in February after rising 0.9% in January.

12674