U.S. import, export prices decline in February

Price indexes for U.S. imports and exports dropped 0.3 percent and 0.4 percent month-over-month, respectively, according to the United States Department of Labor’s Bureau of Labor Statistics.    Price indexes for both imports to and exports from the United States declined in February compared to the prior month, according to the most recent data from the United States Department of Labor’s Bureau of Labor Statistics (BLS).
   U.S. import prices decreased 0.3 percent month-over-month in February. Import prices have not recorded a monthly advance since the 0.1 percent month-over-month increase in June 2015.
   Fuel import values, which were hindered by petroleum and natural gas prices, experienced a monthly decline of 3.9 percent in February.
   Non-fuel import prices dropped 0.1 percent month-over-month.
   “In February, lower prices for foods, feeds, and beverages; automotive vehicles; and nonfuel industrial supplies and materials more than offset rising consumer goods prices,” the BLS said.
   Meanwhile, U.S. export prices in February fell 0.4 percent from January, as declining non-agricultural prices more than offset rising agricultural prices. Export prices have not seen a 1-month increase since May 2015.
   Prices for agricultural exports rose 0.6 percent month-over-month in February, driven by an increase in fruit prices, meat prices and corn prices.
   Non-agricultural export prices declined 0.4 percent month-over-month in February, due primarily to falling prices for nonagricultural industrial supplies and materials.