HOUSTON, March 15 (Xinhua) - Prices for U.S. imports and exports increased 0.4 percent and 0.2 percent respectively in February, the U.S. Bureau of Labor Statistics reported on Thursday.
The price index for U.S. imports rose 0.4 percent in February, the seventh consecutive monthly increase, after advancing 0.8 percent in January.
The last time the index declined on a monthly basis was a 0.2-percent drop in July 2017. Import prices advanced 3.5 percent for the 12-month period ended in February, matching the 12-month rise in November.
The price index for fuel imports declined 0.6 percent in February, the first monthly decline since July.
Prior to February, the index for fuel imports rose 29.1 percent between July 2017 and January 2018. Both petroleum and natural gas prices contributed to the decline in overall fuel prices in February.
The price index for nonfuel imports advanced 0.5 percent in February, after rising 0.5 percent the previous month.
The last time the index increased by more than 0.5 percent was a 0.8-percent advance in April 2011.
The price index for nonfuel imports increased 2.1 percent over the past 12 months, the largest over-the-year rise since the index advanced 2.4 percent for the year ended February 2012. The primary contributor to the 12-month advance in February was higher prices for nonfuel industrial supplies and materials.
U.S. export prices increased 0.2 percent in February after rising 0.8 percent in January. The last time the index declined on a monthly basis was a 0.1-percent decrease in June 2017.
In February, higher prices for both nonagricultural and agricultural exports contributed to the increase in overall export prices.
The price index for U.S. exports increased 3.3 percent over the past 12 months.
The price index for agricultural exports rose 0.6 percent in February, after ticking up 0.1 percent the previous month.
The February advance was the largest increase since the index rose 2.0 percent in October and was driven by higher prices for corn and soybeans, which increased 7.2 percent and 2.5 percent, respectively.
Nonagricultural export prices advanced 0.2 percent in February following a 0.8-percent rise in January.
Over the past 12 months, prices for nonagricultural exports advanced 3.6 percent, which matched the 12-month increase in January.
