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Financial News: U.S. Import Prices Climb More Than Expected In

U.S. Import Prices Climb More Than Expected In January

02/10/2017 - 08:38:00 (RTTNews)

(RTTNews) - With prices for fuel imports showing another substantial increase, the Labor Department released a report on Friday showing that U.S. import prices rose by more than expected in the month of January.

The report said import prices increased by 0.4 percent in January after climbing by an upwardly revised 0.5 percent in December.

Economists had expected import prices to rise by 0.2 percent compared to the 0.4 percent increase originally reported for the previous month.

The Labor Department also said export prices inched up by 0.1 percent in January after rising by 0.4 percent in December. The uptick in export prices matched economist estimates.

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