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Prices & Quotes
US import prices jump past forecasts in January
By Alexander Bueso
Date: Thursday 18 Feb 2021
LONDON (ShareCast) - (Sharecast News) - Import prices jumped past forecasts at the start of 2021, led by rising energy prices.
According to the Department of Labor, US import prices increased at a month-on-month pace of 1.4% (Barclays: 0.8%).
Energy prices drove the increase, rising at a 8.1% clip on the month, alongside a 0.4% rise in food inflation.
Year-on-year, import prices were ahead by 0.9% (Barclays: 0.3%).
Export prices also headed higher last month, jumping by 2.5% in comparison to December with those for agricultural exports bounding up by 6.0% and those for non-agricultural sales overseas strengthening by 2.2%.
In comparison to a year earlier, export prices were 2.3% higher.