Import prices ticked up 0.4 percent in February on a rebound in fuel prices, but elsewhere price pressures from abroad remained muted as the dollar continued to strengthen
Excluding Fuel, Import Prices Still Falling
- The seven month slide in import prices came to a halt in February, with import prices edging up 0.4 percent. The increase stemmed from a 6.5 percent recovery in fuel prices, the largest monthly increase in more than three years.
- Excluding fuel, import prices fell 0.3 percent over the month as another 1.4 percent increase in the trade-weighted value of the dollar lowered the effective costs of overseas products.
Exporters: The Pressure Is On
- Consumer goods ex-autos was the only major nonfuel category to see import prices increase, but the 0.3 percent gain only partially reversed previous months’ cuts.
- Sluggish global growth and the sharp strengthening in the dollar are putting pressure on exporters to cut prices to remain competitive overseas. Non-food or fuel export prices fell for a sixth straight month and are 1.3 percent lower than a year ago.
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