U.S. import prices rise, exceed expectations in February

Import and export prices in the U.S. increased in February, surpassing analysts' expectations. Import prices rose by 0.4% from January and were up 2.0% compared to the previous year. This is an increase from January's year-over-year rate of 1.6%. Export prices showed a smaller increase. They grew by 0.1% month-over-month but declined by 2.1% year-over-year. This is a slight improvement from January when export prices dropped 2.7%. Chinese import prices also saw a rise, contributing to the overall increase in trade prices. The data indicates ongoing inflationary pressures in both imports and exports, likely affecting consumer costs in the U.S. economy.