Import Prices Rose In January

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WASHINGTON, Feb. 14 (UPI) — U.S. import prices rose 0.3 percent in January following a 0.1 percent downturn in the previous month, the Department of Labor said Tuesday.

The increase was triggered by gains in both fuel and non-fuel items, the department said.

Prices for fuel imports for the month rose 1 percent, while non-fuel import prices rose 0.1 percent.

From January 2011 to January 2012 prices for all imports rose 7.1 percent, while prices for fuel imports rose 20.8 percent. Over 12 months, non-fuel prices have risen 2.9 percent, the report said.

Export prices for January rose 2.5 percent with agricultural export prices down 1 percent and non-agricultural export prices up 3 percent.

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