# U.S. import prices jump 1.3% in February as inflation pressures build
Table of Contents
“#
U.S. import prices jump 1.3% in February as inflation pressures build
”
The numbers: The cost of imported goods jump 1.3% in February and rose sharply for the third month in a row, reflecting a rebound in inflation that’s been driven in large part by higher gasoline prices.
Those imports are going to cost you: The cost of foreign-made goods have climbed back to pre-pandemic levels.
Joe Raedle/Getty Images
The import price index jumped 1.3% in February, the government said Thursday. Import prices also increased 1.4% in January and 1% in December.
If fuel is excluded, import prices moved up 0.4% last month. Over the past year import prices minus fuel have risen 2.8%.
MarketWatch special: The coronavirus pandemic has remade our working lives, and it’s been anything but fair
Rising demand as the global economy recovers and disruptions in supply lines caused by the pandemic have led to shortages of some key materials such as computer chips and lumber. That’s leading to delays in production and pushing up prices as companies compete for resources.
U.S. export prices increased 1.6% February. They have also been rising rapidly for the same reasons.
The stock market
DJIA,
is still climbing despite more worries about inflation. The Federal Reserve contends inflation will recede once the pandemic fades.
If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.
For forums sites go to Forum.BuradaBiliyorum.Com
If you want to read more News articles, you can visit our News category.
