US import prices rise a bit more slowly than expected in February

The cost of goods imported from abroad increased a tad more slowly than anticipated last month.

According to the US Department of Labor, in seasonally adjusted terms, import prices increased at a month-on-month pace of 1.4% in February (consensus: 1.6%).

That 'miss' was on top of a downwards revision to January's reading of one tenth of a percentage point to 1.9%.

Non-fuel import prices did rise by 0.8% on the month, beating forecasts for a 0.6% jump.

But here too, the prior month's reading was revised down by one tenth of a percentage point to reveal an increase of 1.3%.

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