Input Stories

U.S. import prices advanced 0.4% in February, after increasing 0.4% in January, with both higher fuel and nonfuel prices contributing to the rise. Over the past year, import prices rose 2.0%. Meanwhile, U.S. export prices advanced 0.1% in February, following a 1.3% rise in January. Over the past year, export prices increased 2.1%.

Fuel import prices grew 1.7% in February, after rising 3.5% in January. These increases are attributed to higher prices for natural gas and petroleum. Prices for import fuel rose 2.8% over the past year. Import prices for petroleum advanced 1.7% in February. Meanwhile, natural gas prices surged 14.0% in February and 49.9% over the year.

Nonfuel import prices ticked up 0.3% in February and have not declined on a monthly basis since May 2024, when they fell just 0.2%. Higher prices for nonfuel industrial supplies and materials and consumer goods more than offset lower prices for capital goods in February. The price index for nonfuel imports increased 2.0% over the past year.

After declining 0.2% in January, agricultural export prices rose 0.8% in February. Over the past 12 months, agricultural export prices increased 0.6%, the largest over-the-year rise since February 2023. Meanwhile, nonagricultural export prices inched up 0.1% in February, after climbing 1.5% in January. Higher prices for consumer goods, capital goods, automotive vehicles and nonagricultural foods led the increase in February. Over the past year, nonagricultural export prices advanced 2.2%.