WASHINGTON (dpa-AFX) - With prices for fuel imports showing a significant increase, the Labor Department released a report on Thursday showing that U.S. import prices rose by much more than expected in the month of February.
The report said import prices climbed by 0.9 percent in February following an upwardly revised 0.4 percent increase in January. Economists had expected import prices to rise by 0.5 percent compared to the 0.1 percent uptick originally reported for the previous month.
Additionally, the Labor Department said export prices rose by 0.6 percent in February after edging up by 0.2 percent in January. Export prices had been expected to rise by another 0.2 percent.
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