US import prices increased 0.4 per cent in February, matching January's gain, driven by higher fuel and nonfuel costs, the US Bureau of Labour Statistics reported. Export prices edged up 0.1 per cent after a 1.3 per cent rise in the prior month. Fuel import prices rose 1.7 per cent, following a 3.5 per cent increase in January, as petroleum and natural gas costs climbed. Nonfuel import prices gained 0.3 per cent, led by higher industrial supplies and consumer goods prices. Over the past year, import prices advanced 2 per cent. Export prices saw a modest 0.1 per cent rise in February, with agricultural export prices climbing 0.8 per cent, driven by higher soybean, meat, and corn prices. Nonagricultural export prices also rose 0.1 per cent, reflecting increases in consumer goods, capital goods, and automotive vehicles. Regionally, import prices from China rose 0.5 per cent, while those from Canada increased 0.8 per cent. Export prices to Canada saw the largest monthly gain at 2 per cent. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
