US import prices decline in February as export prices edge up
The import prices fell every month since last June except in Dec while export prices showed a second successive month of recovery
By USInMinutes
Published - Mar 16, 2023, 05:02 PM ET
Last Updated - Jul 18, 2023, 04:14 PM EDT
U.S. import prices fell 0.1% in February while continuing a streak of declines that started in June 2022 with a minor break in December 2022.
Prices for U.S. exports advanced 0.2 percent in February, after rising 0.5 percent in January – the first monthly increase since June 2022.
The import prices had fallen each month since June 2022 with the exception of a 0.1% advance in December 2022 after the price jolt that the Russian invasion of Ukraine caused. U.S. import prices declined 1.1% from February 2022 to February 2023, the first 12-month decrease since the index fell 0.3% in December 2020 and the largest over-the-year drop since a 1.3% decline in September 2020, a Bureau of Labor Statistics bulletin said on Thursday.
